TLDR
- Bitcoin surged 6% on Friday, hitting a local high of $81,034
- Around $250 million in crypto short positions were liquidated in four hours
- US 30-year bond yields rose to 5.34%, up 90 basis points on the day
- The $80,000–$82,000 range is now seen as the key resistance zone for BTC
- The Strategic Bitcoin Reserve bill advanced through a House committee on Thursday
Bitcoin climbed sharply on Friday, breaking above $80,000 as turmoil in global oil markets pushed US bond yields higher. The move came around the start of the Wall Street trading session.
BTC/USD hit a local high of $81,034 on Bitstamp, according to TradingView data. The rally was driven by a broader shift into risk-on assets as traders reacted to rising energy prices.
US WTI crude oil fell to $94.8 per barrel before recovering. At time of writing it was trading around $98, with supply concerns continuing to weigh on markets.
The International Energy Agency warned Friday that countries may need to cut oil usage. The IEA said oil flows through the Strait of Hormuz fell to 7.6 million barrels per day in August — 13.1 million below pre-war levels with Iran.
BREAKING: 🇺🇸 The SEC and CFTC are pushing ahead with crypto rules despite the CLARITY setback.
And $BTC is back above $81K.
Imagine if Washington finally got its act together. pic.twitter.com/HJ9MbzpVZw
— Merlijn The Trader (@MerlijnTrader) September 18, 2026
As oil uncertainty grew, US 30-year bond yields climbed to 5.34%, up 90 basis points on the day. Rising yields have been pushing central banks in both the US and Japan to raise interest rates this week.
The spike in Bitcoin’s price triggered a wave of short liquidations. Data from CoinGlass showed around $250 million in cross-crypto short positions wiped out over four hours.
Analyst Rekt Capital posted a chart on X describing the current moment as a “moment of truth” for bulls. He pointed to $82,000 as a key level — failing to break it could form a double rejection pattern alongside the failed May rebound.
BTC Reclaims Key On-Chain Level
Bitcoin also reclaimed its True Market Mean, which sits at $76,660. Onchain analytics platform Glassnode said on X that this puts price “back above a crucial level and back into a bullish regime.”
The cost basis for Bitcoin corporate treasuries sits at $80,500, which adds weight to the current price range as a battleground level.
Analyst Nic Puckrin, founder of Coin Bureau, told Yahoo Finance: “Once bitcoin broke past the resistance level around $78,000, shorts got liquidated, pushing it toward $80,000.” He added: “The real test is now in the $80,000–$82,000 range, where resistance is much stronger.”
Strategic Bitcoin Reserve Bill Advances
On the regulatory front, a House committee advanced the Strategic Bitcoin Reserve bill on Thursday. The bill would lock US government-held Bitcoin in a federal reserve for at least 20 years with regular audits required.
BREAKING: 🇺🇸 US House committee PASSES the Strategic Bitcoin Reserve bill.
The bill would lock government held Bitcoin in a federal reserve for at least 20 years and require regular audits of US Bitcoin holdings. pic.twitter.com/YbiOzeBVfe
— Bull Theory (@BullTheoryio) September 16, 2026
The bill passed the committee on a party-line vote and still needs approval from the full House and Senate.
Bitcoin held its ground despite the Clarity Act failing a Senate cloture vote earlier in the week. Crypto derivatives traders remained bullish, with heavy positioning in call options heading into the weekend.
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