- Bitcoin faces $6B in short liquidations, with $83,870 as the key breakout level.
- A move above $83,870 could trigger a short squeeze, pushing Bitcoin toward $93,000.
- Bitcoin rebounded to $85,120, signaling buying interest despite recent market corrections.
Bitcoin’s price is approaching a critical juncture, with $6B in short positions standing between it and the $93,000 mark. SimplyBitcoinTV recently highlighted this resistance on X, noting the potential for a significant surge.
Bitcoin price at press time was $84,726 following a market correction that reduced prices to below $85,000. The market observes the cryptocurrency price movements to determine if it can overcome the resistance formed by short positions and sustain a positive trajectory.
The $6B in short liquidations represents a major hurdle. Data from CoinGlass shows cumulative short liquidation leverage reached $6.00B, exceeding long liquidations at $4.70B. This imbalance suggests short sellers face pressure if the cryptocurrency’s price rises. A breakthrough above $83,870 could trigger a short squeeze, driving prices toward $93,000 and potentially sparking the next crypto bull run.
Bitcoin’s Recovery and Short Liquidation Challenges
Bitcoin’s price rebounded to $85,120, easing a sell-off that dominated much of February 2025. The recovery follows oversold technical indicators, like the daily Relative Strength Index, which signaled a possible bounce. However, sustaining this momentum remains uncertain as $6B in short positions looms at $83,870.
Analysts note that filled bids on Coinbase, as mentioned by HighStrike’s JJ, mark the first time bids outweighed asks since September 2024’s $52,000 low. This shift hints at growing buying interest. Yet, the cryptocurrency must overcome the short liquidation wall to avoid revisiting recent lows near $78,000 if negative newsflow resumes.
Potential for a Crypto Bull Run
Many market observers see the cryptocurrency’s current position as a buying opportunity, similar to August 2024’s dip below $50,000. Wintermute trader Jake O stated on X that the disconnect between sentiment and fundamentals looks promising for long-term investors. This suggest a sustained move above $83,870 could push the cryptocurrency toward new all-time highs, igniting a major crypto bull run.
Technical analyst Aksel Kibar described Bitcoin’s $78,000 level as a sharp retest but withheld judgment on a price bottom. The cryptocurrency’s daily chart shows lower highs and lows, but a higher high above $85,120 could signal a trend reversal. Breaking the $93,000 resistance depends on sustained buying and market stability.
