Bitcoin surpasses the $86,000 barrier and triggers a wave of liquidations
News: The price of Bitcoin (#BTC ) has experienced a strong rebound, breaking through the $86,000 USD barrier.
Key detail: The move led to the massive liquidation of more than $648 to $710 million in short positions within less than 24 hours, accelerating the rally driven mainly by the derivatives market.
Technical analysis: BTC has managed to close above its 50-week moving average for the first time in almost a year, indicating a bullish structure shift in the short term, although indicators like the RSI suggest caution regarding a possible overbought zone.
News: The price of Bitcoin (#BTC ) has experienced a strong rebound, breaking through the $86,000 USD barrier.
Key detail: The move led to the massive liquidation of more than $648 to $710 million in short positions within less than 24 hours, accelerating the rally driven mainly by the derivatives market.
Technical analysis: BTC has managed to close above its 50-week moving average for the first time in almost a year, indicating a bullish structure shift in the short term, although indicators like the RSI suggest caution regarding a possible overbought zone.