Bitcoin rises for two straight days, but the one pushing it is still the bears
Bitcoin is above $86,000 today, up about 2.8% over the past 24 hours. Ethereum is near 2,730.
This is already the second consecutive day of price movement driven by the bears. Over the past 24 hours, the entire market saw liquidations of $263 million, with short positions accounting for 80.87%. Bitcoin itself accounted for $132 million of that, and 96% of it was liquidation caused by shorts.
But there’s one change worth noting: yesterday’s liquidation wave was $648 million; today it’s $263 million. Trading volume is clearly shrinking.
What does this mean? It’s still too early to draw conclusions. Bear repositioning can eventually get exhausted, and a trend pushed up by short liquidations has a natural ceiling. The real turning point is in the days ahead: whether new spot buying comes in to take over. On-chain indicators—such as new addresses, active addresses, and on-chain transaction volume—haven’t yet reached their two-month highs. In other words, we haven’t seen it yet.
I want to ask traders who are doing derivatives: in a move like this—two straight days of price action driven by short liquidations—how would you handle your short positions?
$BTC #Bitcoin
Bitcoin is above $86,000 today, up about 2.8% over the past 24 hours. Ethereum is near 2,730.
This is already the second consecutive day of price movement driven by the bears. Over the past 24 hours, the entire market saw liquidations of $263 million, with short positions accounting for 80.87%. Bitcoin itself accounted for $132 million of that, and 96% of it was liquidation caused by shorts.
But there’s one change worth noting: yesterday’s liquidation wave was $648 million; today it’s $263 million. Trading volume is clearly shrinking.
What does this mean? It’s still too early to draw conclusions. Bear repositioning can eventually get exhausted, and a trend pushed up by short liquidations has a natural ceiling. The real turning point is in the days ahead: whether new spot buying comes in to take over. On-chain indicators—such as new addresses, active addresses, and on-chain transaction volume—haven’t yet reached their two-month highs. In other words, we haven’t seen it yet.
I want to ask traders who are doing derivatives: in a move like this—two straight days of price action driven by short liquidations—how would you handle your short positions?
$BTC #Bitcoin