Dogecoin Surges 15% as Crypto Market Rebounds, Bitcoin Holds Above $85,000

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Dogecoin led a broad cryptocurrency market rebound with a 15% price surge, outpacing most other digital assets. Bitcoin remained relatively stable, holding its position above $85,000 during the rally. The upward move was largely driven by forced buying, which resulted in $844 million in losses for short sellers. As the short squeeze ran its course, the broader market momentum slowed, with Bitcoin trading flat within the last hour. Zcash (ZEC) was notably the only major token still in negative territory amid the recovery.

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