Most traders focus on price swings, but the real money is in the short‑covering data.

Nansen’s latest on‑chain analysis shows that U.S. spot buying is forcing a wave of short‑covering that could catapult $BTC past $90,000, even as whale positions remain net short.

The signal:

- Spot volume in the U.S. has surged 35% YoY, the highest in 18 months.

- Short‑covering on the major exchanges rose 120% in the last 48 hours.

- Net short position on $BTC is still 1.2x the long side, but the gap is narrowing.

Interpretation:

When institutional demand spikes, the only way to sustain the price is to cover shorts. The recent surge in U.S. spot volume is a clear sign that the market is shifting from a bearish bias to a bullish one. If short covering continues, we’re looking at a smooth climb to $87k and then $90k, as Nansen’s models predict.

Watch list:

Keep an eye on the U.S. spot volume spike—if it keeps accelerating, the price will likely follow. #USSpotSurge

So, are you ready to ride the short‑covering wave and position yourself before $BTC hits $90k?