Bitcoin briefly surged above $90,000 before falling back to $86,000.
Rising funding rates show an increase in leveraged long positions.
Analysts are watching $83,000 and $80,000 as key liquidity levels.
Bitcoin failed to hold above $90,000 yesterday, retreating after a brief surge past that level. Analysts attributed the reversal to rising leverage and liquidity-driven trading.
Specifically, the rapid reversal saw Bitcoin climb to $90,087 on Coinbase before dropping to around $86,580 within hours. The inability to maintain levels above $88,000 has reinforced concerns that the market is still churning through a heavy overhang of leveraged long positions.
BTC Price Action Today
The move was sharp and punishing. After piercing the $90k ceiling, Bitcoin reversed course within hours, currently trading near $86,401.
This 4.5% weekly decline reinforces the view …
Read The Full Article Bitcoin Shoots to $90,087 on Coinbase Hours Before Sliding Back to $86,580: Here’s Why On Coin Edition.
