Bitcoin’s rebound wipes out over $170M in short positions
Crypto Briefing
Bitcoin's 2% surge to $89,700 caused $209 million in liquidations, primarily wiping out $170 million in short positions.Summary
Bitcoin experienced a 2% rebound, climbing to $89,700 on Friday, which resulted in $209 million in liquidations over the preceding 24 hours. Data from CoinGlass indicates that short positions bore the brunt of these liquidations, accounting for approximately $170 million, or about 82% of the total. This price movement occurred while spot investors continue to accumulate Bitcoin amid improving liquidity, though market sentiment remains cautious. Analysts suggest that without a definitive breakout above the $90,000–$92,000 resistance zone, supported by increased spot demand, further rallies may face retracements.
(Source：Crypto Briefing)