Bitcoin ETF · Bitcoin · CoinDesk
Bitcoin could test $90,000 after shorts get squeezed, but traders warn leverage is building
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Bitcoin pushed to a fresh eight-month high of $86,000 on Monday, extending a rally that forced bearish traders out of their short positions and drew fresh leverage bets back in.
Key facts
- Nansen’s Sondergaard pointed to $87,000 as the next level to watch, followed by the psychological $90,000 mark and then roughly $92,000
- Roughly $750 million in bearish crypto derivative positions were liquidated as bitcoin cleared $82,000, a level that capped prices since August, CoinGlass data shows
- Then, flows reversed as fast, taking in $160 million on Thursday and $433 million on Friday, the strongest inflow day of the week
- But Wintermute’s De Maere said talk of a fresh record above bitcoin's $126,000 October 2025 peak before year-end is still “premature at the moment,” noting that early bull markets tend to come
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. Roughly $750 million in bearish crypto derivative positions were liquidated as bitcoin cleared $82,000, a level that capped prices since August, CoinGlass data shows.