Bitcoin reset wipes more than $170M in short positions
Key receivers
Bitcoin's recent price spike resulted in $209 million in outflows in a 24-hour period. Short positions account for about 82% of all liquidity.
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Bitcoin's relaunch sparked $209 million in outflows over the past 24 hours, with short positions accounting for more than $170 million, about 82% of the total, according to CoinGlass data.
Bitcoin is up 2% this morning to $89,700, according to CoinGecko. At the time of the report, it was trading at around $89,400.
The wave of short liquidity comes as spot investors continue to accumulate bitcoin, improving market liquidity, but market conditions remain cautious.
Some analysts believe that without a critical break above the $90,000–$92,000 resistance zone, strongly supported by spot demand, rallies may face further reversals.
