"Short positions on Bitcoin are squeezed, BTC is rising."

Bitcoin Short Positions Liquidated

It has been reported that over 110 million dollars worth of Bitcoin short positions were liquidated in the last hour. This data was shared by the market analysis platform Coinglass. The increase in open positions has remained quite limited.

Spot Demand in Focus

The rise of Bitcoin to 90,000 dollars is supported by spot demand beyond leveraged bets. This indicates that investors are likely to aggressively buy, pushing the market upwards. The total volume delta of Bitcoin showed an increase of %1,100 during this rise. This indicates a buying pressure not seen since the beginning of December.

Expert Opinions

Global Macro Investor Julien Bittel states that with Bitcoin's oversold indicator value, he foresees a sustainable bull market. Bittel argues that the traditional four-year cycle has been disrupted and that Bitcoin dominance is rising towards %60.