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Bitcoin gained more than 5% as USD 750.5 million in leveraged positions were liquidated, with shorts accounting for approximately 86% of the total.
Hyperliquid users borrowed USD 269 million in stablecoins on the first day of its manual borrowing feature.
Strategy purchased another 950 BTC for approximately USD 75.7 million.
The crypto market saw major developments as Bitcoin climbed above USD 85,000 as USD 750 million got liquidated, while FTT surged 33% amid speculative demand. Also, Hyperliquid launched a manual borrowing feature against crypto collateral and Strategy acquired 950 Bitcoins.
Bitcoin surged above USD 85,000 as a wave of short liquidations accelerated the cryptocurrency’s strongest advance since January.
BTC gained more than 5% over the past 24 hours to reach USD 85,190, extending its advance over the past month to around 29%. The asset had eased to USD 84,545 as of press time.
CoinGlass data showed about USD 750.5 million of leveraged crypto positions were liquidated over the past 24 hours, with more than USD 648 million, or roughly 86%, coming from shorts. About 137,386 traders were liquidated.
Bitcoin accounted for roughly USD 360 million of the liquidations, while Ethereum contributed nearly USD 171 million.
FTX Token (FTT) jumped 33.43% in the last 24 hours as renewed altcoin rotation and speculative liquidity pushed the token towards USD 0.30.
The rally aligned with a broader rebound across the altcoin market. The FTX Token benefited greatly, despite lacking a comparable token-specific fundamental catalyst behind the move.
Additionally, its spot volume jumped 2,187% to USD 26.6 million as traders rapidly returned.
This rapid volume expansion supported the initial rally, helping FTT escape its previous subdued trading conditions.
Also Read: How Bitcoin Can Be Used to Settle Cross-Border Trade Payments
Hyperliquid launched a manual borrowing feature on 18 September 2026. The decentralized finance (DeFi) platform now lets users pledge HYPE or Bitcoin as collateral and borrow the stablecoins USDC or USDT.
Users borrowed USD 269 million in stablecoins on the first day of the feature. The launch-day total showed how quickly users adopted the new lending option.
According to reporting, the borrowing terms differ by collateral type. HYPE holders can borrow up to 65% of their token value, with liquidation triggered at an 82.5% loan-to-value (LTV) ratio. Bitcoin collateral caps at 50%, with liquidation set at 75%.
The HYPE token climbed to a record high above USD 90 as the borrowing feature went live.
The Bank of Russia proposed capping banks’ total risk from cryptocurrencies and foreign digital instruments at 1% of their capital as it sets prudential limits for lenders entering the country’s newly regulated crypto market.
According to the Bank of Russia, the draft regulation would introduce two maximum risk ratios, N31 for individual credit institutions and N32 for banking groups on a consolidated basis. Both would be limited to 1% of the institution or group’s own funds.
The rules would cover loans, derivatives, bonds, repo transactions, guarantees, credit lines and other financial instruments whose payments or value depend on cryptocurrencies or foreign digital instruments that can fall within the calculation.
Banks would have to remain within the 1% ceiling on every operating day, while a breach on any such day would count as noncompliance.
According to the 8-K filing submitted by Strategy to the US SEC, the company purchased 950 Bitcoins at an average price of approximately USD 79,670 between September 14 and 20, 2026, totaling approximately USD 75.7 million, with funds sourced from USD Cash.
During the same period, the company did not sell any shares through the ATM program; additionally, it repurchased 1.7712 million shares of STRC preferred stock for USD 174 million, leaving approximately USD 875.1 million remaining under the preferred stock repurchase program.
As of September 20, Strategy accumulated 846,000 BTC, with a cumulative cost basis of approximately USD 63.8 billion, averaging about USD 75,416 per Bitcoin.
Also Read: Lido Starts 8.4M ETH Migration After Validator Consolidation
1. Why did Bitcoin rise above USD 85,000?
Bitcoin gained more than 5% as short liquidations accelerated its rally. Around USD 648 million of the USD 750.5 million in total crypto liquidations reportedly came from short positions.
2. Why did FTX Token surge more than 33%?
FTT benefited from speculative demand and broader altcoin momentum rather than a clear token-specific fundamental catalyst. Its spot trading volume increased 2,187% to approximately USD 26.6 million.
3. What is Hyperliquid's new manual borrowing feature?
Hyperliquid now allows users to pledge HYPE or Bitcoin as collateral and manually borrow USDC or USDT. Users reportedly borrowed USD 269 million in stablecoins on the feature's first day.
4. What crypto limit the Bank of Russia proposed for banks?
The Bank of Russia proposed limiting banks' aggregate exposure to cryptocurrencies and qualifying foreign digital instruments to 1% of their own capital through the proposed N31 and N32 risk ratios.
5. How much Bitcoin does Strategy hold after its latest purchase?
Strategy acquired 950 BTC for approximately USD 75.7 million between September 14 and 20. As of September 20, the company reported holding 846,000 BTC acquired for approximately USD 63.8 billion.
