Bitcoin has regained bullish momentum by surpassing $85,000, with a gain of approximately 4.4% over 24 hours and 9% over seven days. BTC has cleared its 200-day moving average, which had been serving as resistance between $80,000 and $81,000, and now faces immediate resistance between $87,000 and $88,000. Liquidation data shows approximately $612 million in positions liquidated over 24 hours, with $535 million coming from short positions, indicating a significant short squeeze. On Binance, the overall long/short ratio stands at 0.9026 and at 0.93 on OKX, while top Binance traders maintain a ratio of 2.27 in favor of long positions. The psychological target of $100,000 would require a rise of approximately 17% from the current price.
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