Bitcoin Surpassed $89,000, Showing Signs of Increase

Bitcoin Rallied

Bitcoin gained value during United States market hours. This situation is a noteworthy change following a period where BTC experienced an approximate %20 decline over the past month.

Among the reasons behind this rally is the decrease in 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 light holiday liquidity continue to keep prices under pressure.