Bitcoin Short Positions Are Squeezed, BTC is Rising

Bitcoin Short Positions Liquidated

In the past hour, it has been reported that more than 110 million dollars worth of Bitcoin short positions have been liquidated. This data was shared by the market analysis platform Coinglass. The rise in open positions remains quite limited.

Spot Demand in Focus

Bitcoin's rise to 90,000 dollars is supported by spot demand, beyond leveraged bets. This situation indicates that investors will push the market upward with aggressive buying. The total volume delta of Bitcoin increased by %1,100 during this rise. This signals a buying pressure not seen since early December.

Expert Opinions

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