Bitcoin Surpassed 89,000 Dollars, Showing Signs of Increase

Bitcoin Rises

Bitcoin gained value during United States market hours. This situation is a remarkable change after BTC experienced an approximately 20% decline over the past month.

One of the reasons behind this rise is the decrease in open positions. This indicates that the current movement was triggered by the closure of short positions rather than new leveraged purchases.

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