Bitcoin rebounds as bulls eye $100K and bears scramble to cover short positions
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">Key takeaways: Bearish Bitcoin traders were caught off guard by BTC’s rally above $90,000.Spot volumes are driving the Bitcoin price rally.Derivatives positions with a bearish bias remain at risk of liquidation.Bitcoin (https://cointelegraph.com/bitcoin-price
The muted response from top traders in BTC margin and futures markets suggests that the recent buying pressure has originated mainly from spot markets, which is generally considered a positive indicator for a sustainable bull run.The longer Bitcoin consolidates above $90,000, the greater the pressure on bears to cover their shorts, as this level reinforces the narrative that Bitcoin is decoupling from the stock market. This could provide the confidence needed to challenge the $100,000 psychological threshold.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
