The cryptocurrency broke back over $81,000 on Sept. 20, climbing past its previous close. Prices encountered a ceiling at the $82,000 mark after a recovery that began Sept. 18, when the asset ended a 2 week downtrend and surpassed $80,000. This price action represented a $7,000 gain for the token in a limited timeframe.

The price spike liquidated nearly $250 million in crypto short positions over a four hour window. Market responses on Sept. 18 included a 12.76% rise in Coinbase shares and a 6% jump for BlackRock's IBIT ETF, which ranked No. 5 among all U.S. ETFs by trading volume.