Bitcoin short liquidations push BTC to multi-month highs: Is $90K next?
The story
Short liquidations and rising open interest may be signs of the bulls’ plan to push the Bitcoin price closer to $90,000.
From the source
Bitcoin (BTC) may have a clear path to $90,000 after $7.9 billion in short liquidations in February put pressure on the bears. Data show liquidations came in three waves that extended from February through April. The liquidations highlight a growing imbalance as BTC traders continue to build short positions above $80,000, while the price holds firm, creating repeat conditions for future short squeezes.
Bitcoin researcher Axel Adler Jr. tracked over $7.9 billion in forced short liquidations since early February. The largest spike hit $737 million on Feb. 13, followed by multiple waves through March and April.
Who and what
Key names and topics in this story: Bitcoin.
Where to follow next
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