Bitcoin shorts scramble for the exits as BTC price climbs

Bitcoin experienced a significant price surge on Wednesday, climbing from an intraday low near $86,200 to reclaim $90,000, which triggered the liquidation of over $110 million in short positions within the last hour, according to Coinglass data. This rapid price movement was fueled by aggressive spot buying, evidenced by a 1,100% spike in Bitcoin's Cumulative Volume Delta (CVD), indicating buyers were overpowering sellers. The surge coincided with a subdued drop in futures open interest, suggesting short positions were covered by buying spot assets rather than through leveraged products. Furthermore, data suggests Wednesday has historically been Bitcoin's strongest weekday over the past year. An analyst noted that this price action aligns with historical recoveries following 'oversold' Relative Strength Index (RSI) readings, predicting the current bull market will extend into 2026, arguing the traditional four-year cycle is obsolete due to shifts in debt dynamics and liquidity. Bitcoin dominance also rose toward 60%, outpacing most altcoins during the rally.

(Source：CoinDesk)