TradingKey – Cryptocurrencies Surge Across the Board as Bitcoin Tops $87,000, Igniting a Wave of Short Liquidations.

On September 22, the cryptocurrency market surged over 5%, with total market capitalization approaching $3 trillion, hitting an eight-month high. Meanwhile, multiple mainstream coins broke through major resistance levels, with Bitcoin (BTC) surging over 5% and briefly touching $87,000; Ethereum (ETH) gaining over 3% and briefly breaking above the $2,800 mark; and Ripple (XRP) jumping over 7% to rise above $1.5.

Previously, the market oscillated repeatedly at high levels, accumulating a large volume of bearish or hedging leveraged short positions. As BTC forcefully broke through the key resistance level of $82,000, it triggered…