Bitcoin Surpassed 89,000 Dollars, Showing Signs of Increase

Bitcoin Rallies

Bitcoin gained value in the United States market hours. This situation is noteworthy as it follows a period in which BTC experienced a total decline of approximately 20% within a month.

Among the reasons behind this rise is the reduction of open positions. This indicates that the current movement was triggered by the closure of short positions rather than new leveraged buys.

However, the overall cryptocurrency market remains in a fragile state. Exchange-Traded Fund (ETF) outflows, tax-related positioning, and slight holiday liquidity continue to exert pressure on prices.