Bitcoin Surges, Liquidates $110M Shorts
Update: 2025-12-17
Description
Bitcoin surged from $86,200 to $90,000 on Wednesday, triggering a $110 million liquidation of short positions. The rapid increase in price, coupled with a small drop in futures open interest, suggests many traders betting on a price fall were caught off guard. Bitcoins market dominance rebounded towards 60% as other cryptocurrencies failed to keep pace. This price spike aligns with historical recoveries after the Relative Strength Index (RSI) indicated bitcoin was oversold. Experts like Julien Bittel predict the current bull market could extend into 2026, challenging the traditional four-year cycle.
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