Bitcoin could test $90,000 after shorts get squeezed, but traders warn leverage is building
Bitcoin has broken out to $86,000, but analysts say the next leg depends on whether spot buyers continue to show up as leverage builds.
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Summary
- Bitcoin hit $86,000 after breaking through a key hurdle at $82,000 that capped its price, triggering a wave of liquidations of bearish bets.
- The rally is drawing in fresh leveraged bets, with bitcoin futures open interest up roughly $2 billion since the breakout.
- Analysts pointed to $90,000 as a potential next level to watch, while ETF flows and spot demand could offer clues on whether the rally has staying power.
