Bitcoin price news: BTC eyes $90,000 as leverage is building
Renewed ETF demand and a short squeeze lifted Bitcoin, while $2 billion in new leveraged bets and $746 million in outflows earlier in the week kept traders cautious.
- Bitcoin reached a fresh eight-month high of $86,000 on Monday, forcing bearish traders to exit short positions while drawing renewed leverage bets into the market.
- Early-Week turbulence from the Clarity Act's Senate failure and a Federal Reserve rate hike triggered $746 million in ETF outflows before sentiment reversed sharply by Friday.
- U.S. spot bitcoin ETFs rebounded with $160 million in Thursday inflows and $433 million on Friday, the week's strongest day, nearly erasing the earlier $746 million outflow.
- Roughly $750 million in bearish derivative positions liquidated as Bitcoin cleared critical resistance at $82,000 and $85,000, accelerating the upward move.
- Nansen Senior Research Analyst Nicolai Sondergaard identified $87,000 and $90,000 as next targets but cautioned that sustained spot demand is essential to prevent a reversal.
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Bitcoin targets $90K as spot demand challenges shorts
Bitcoin has broken above $85,000 as renewed U.S. buying and forced short covering have put Nansen’s next targets at $87,000 and $90,000, even as large crypto traders remain net short. Nansen Senior Research Analyst Nicolai Sondergaard told crypto.news that Bitcoin’s…
After months of sales pressure, bitcoin has regained its breath in recent days and surpassed the $86,000 mark, the highest level since January. Recovery has gained strength with improved appetite for risk in global markets and a combination of more favorable signals for the cryptoactive sector in the United States, after a week marked by advances and setbacks in the regulatory front. The U.S. Senate failed to advance, last week, the Clarity Act,…
Bitcoin Price Tests $86K as 1.07M BTC Supply Wall Looms
Bitcoin has climbed into the $86K resistance zone, one of the market’s most important technical and onchain barriers. With 1.07 million BTC concentrated between $83,000 and $86,000 and U.S. spot exchange-traded fund (ETF) investors above breakeven, the next move could reveal whether the crypto recovery has enough demand to absorb significant overhead supply. Glassnode Flags […]
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