Short sellers faced forced closures on Sept. 18 when the largest cryptocurrency surged to $80,000. Liquidations of crypto shorts totaled $175 million in a single hour, while Ethereum rose above $2,550. Total crypto market capitalization increased by $130 billion over the 24 hours preceding the rally.

This price action ended a 14 day downtrend for the digital asset. Prediction markets on Kalshi assign a 21% probability that Bitcoin reaches $100,000 before the end of the year, following the successful reclaim of the $80,000 level.