Bitcoin Jumps to $86K as FOMO Hits Two-Year High

Bitcoin (BTC) rallied 6.42% over the past day and is up 10.42% for the month, last trading at $86,447. The move triggered $556 million in short liquidations in 24 hours, as BTC held firm above the closely watched $80,000 level. Santiment: FOMO back to late-2024 levels Crypto analytics firm Santiment said Bitcoin's "fear of missing out" (FOMO) has climbed to its highest level since December 2024. That month, BTC peaked near $108,000, ahead of further gains that ultimately culminated in an all-time high of $126,000 in October 2025. Trading activity also accelerated, with combined Bitcoin volume jumping 39% recently. Despite heavy short covering, derivatives positioning continued to build: open interest rose 9.38% in the last 24 hours to $61.33 billion. Institutional demand and macro tailwinds Beyond retail-driven momentum, corporate buying also added support. Strategy disclosed a fresh purchase of 950 BTC. ETF flows turned positive as well, with net inflows totaling $317.10 million as of Sept. 21. Markets also benefited from easing bond yields and lower cooking oil prices, contributing to a shift toward cautious optimism. Analysts and traders react Veteran analyst Ben Cowen posted on X that he was wrong to maintain a bearish view. Strategy Executive Chairman Michael Saylor and analyst Michał van de Poppe responded by welcoming the shift, noting that market theses require frequent reassessment. Online chatter also resurfaced around TV personality Jim Cramer, who said nearly two months ago that he had sold all his Bitcoin over concerns about quantum-related security risks. As BTC moved above his reported exit level, "Inverse Cramer strikes again" began trending. Not all positioning is bullish. Investor Garret Jin turned bearish after booking an $8.38 million profit on a Bitcoin long position yesterday. He is now short 500 BTC using 3x leverage, a position valued at $43.23 million. Santiment's caution and key levels Santiment warned that declining perceived risk often compresses potential upside, stressing that the framework does not predict an imminent reversal but is meant to encourage vigilance: "One-sided optimism is where caution becomes useful." Technically, if Bitcoin holds above $86,000, it may retest the $90,000 Fibonacci extension. A break below that zone could open the door to a pullback toward $82,000–$84,000.