Bitcoin Surpassed $89,000, Showing Signs of an Upward Trend

Bitcoin on the Rise

Bitcoin gained value during market hours in the United States. This comes as a noteworthy change following a period in which BTC experienced a total decline of approximately 20% over the month.

The reasons behind this rise include a decrease in open positions. This indicates that the current movement was triggered more by the closing of short positions rather than new leveraged purchases.

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