Quick thoughts on BTC Yesterday, during BTC's breakout past 85K, the market saw approximately $750 million in positions liquidated, with about $648 million being short positions. This explains why the price surged so quickly. If this price increase was driven by short liquidations, then breaking past a new high to 90K will require more bullish buyers to step in and push the price further. Unless the price pulls back or consolidates at higher levels to increase open interest (OI) and attract more buying pressure. This is not a shorting alert. In the short term, keep an eye on the support level around 84.6K before considering going long again. Trend-wise: Looking at the daily chart, this wave below the 95-97K range is still considered a rebound for now. However, the profits from this rebound are already very substantial, and it has also driven some altcoin movements. Those who boldly bought the dip have already taken their share of the gains.