Why Is Bitcoin Up Today? It Closed Above Its 50-Week Average for the First Time in 45 Weeks.

Bitcoin (CRYPTO:BTC) wrapped up the week ending September 20, 2026, at $81,159, finally closing above its 50-week moving average of around $78,786. This marks the first time in 45 weeks that it has finished above this key indicator, according to…

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Bitcoin (CRYPTO:BTC) wrapped up the week ending September 20, 2026, at $81,159, finally closing above its 50-week moving average of around $78,786. This marks the first time in 45 weeks that it has finished above this key indicator, according to Galaxy Research. 

On September 21, BTC surged to $85,257 before easing to $84,702, reflecting a 5.3% increase in just 24 hours and a 10% rise over the past month. Despite this surge, the Bitcoin price is down about 3% since the start of the year, when it closed at $87,498 on December 31, 2025.

Two main factors contributed to this surge. First, the weekly close was above the 50-week average, which signaled trend followers to take action. The second was a short squeeze, where Bitcoin’s rise pushed traders with short positions to cover their losses, resulting in a $300 million buying frenzy within an hour. Here’s why Bitcoin is rising and what the Bitcoin price needs to hold to sustain this momentum.