Bitcoin’s price is closing in on $87,000 after this explosive rally that just wrecked over $1 billion in liquidations across crypto derivatives rn. 🖤
The cryptocurrency hit an intraday high at exactly $87,000 with its total market cap climbing toward $1.8 trillion. 🌙
This move extends Bitcoin’s impressive recovery from around $75,000 last week and pushed it to the highest price since January. 🦇
Shorts Get Crushed as BTC Rallies Higher 💥
The sharp move caught leveraged traders who were betting on more downside. 🔥
Data from CoinGlass shows roughly $1 billion worth of positions got liquidated with $900 million being shorts. More than 139,000 traders saw their positions force-closed and the single largest one happened on Hyperliquid at slightly over $20 million. 😈
This massive imbalance means forced short closures added extra momentum as BTC cleared several resistance levels in quick succession. ✨
This is basically a short squeeze turning into a full liquidation cascade. 📈
What Happens Next for Bitcoin? 🔮
Eyes are shifting fast toward the $88,000 area and beyond to $90K. 🌹
Some analysts highlighted Bitcoin reclaiming its 50-week moving average near $78,700 as a super important technical shift with $88K as the next target. 💀
Other views point to a major bearish block around this zone so a sustained break above $88K could unlock $90K or even $95K while $80K and $82K flipped into key support. 🕸️
Just another echo from the void by iconofsin.eth 💖
