More than 110 million dollars in bitcoins Short positions were liquidated as the price of the largest cryptocurrency rose to $90,000 from an intraday low of $86,200 on Wednesday.
Data from Coinglass shows that short positions were liquidated in the last hour, with the majority occurring in bitcoin trading pairs.
The price increase also coincided with a relatively modest decline in futures open interest, suggesting that those in short positions covered their positions by buying spot, as opposed to leveraged products, to minimize risk or were liquidated.
Bitcoin’s cumulative volume delta (CVD) increased by 1,100% during the peak, indicating that aggressive buyers are dominating sellers. That’s behavior not seen since December 1st.
Altcoins lagged behind bitcoin’s movement for the most part, as bitcoin dominance climbed back to 60%, a far cry from September when it hit just 56.7%.
Over the past year, Wednesday has been the best-performing business day for bitcoin, Velo data shows.
Oversold RSI Indicates Extended Bitcoin Bull Market
Julien Bittel, head of macro research at Global Macro Investor, maintains that bitcoin’s recent price action is consistent with historical recoveries following “oversold” RSI readings, with the last RSI below 30 occurring in September 2025.
Bittel said the traditional four-year cycle is no longer valid, not because of the halving, but because of changes in debt refinancing, longer-term maturities and liquidity dynamics. The current bull market will extend until 2026, Bittel stated.
