Bitcoin surged from an intraday low near $86,200 to reclaim $90,000 on Wednesday, driven by aggressive spot buying and a wave of short liquidations.
According to Coinglass, more than $110 million in BTC ($88,197.67) short positions were liquidated, mostly across bitcoin trading pairs. The rally coincided with only a modest decline in futures open interest, suggesting that short sellers either covered via spot purchases or were forcibly liquidated.
Bitcoin’s cumulative volume delta (CVD) rose roughly 1,100% during the surge, indicating that buyers decisively overpowered sellers—a move not seen since Dec. 1. Altcoins lagged behind, with BTC dominance climbing toward 60%, up from a September low of 56.7%. Velo data shows that Wednesdays have historically been the strongest-performing weekday for bitcoin over the past year.
Oversold RSI points to extended bull run
Julien Bittel, head of macro research at Global Macro Investor, said bitcoin’s recent price action aligns with recoveries following “oversold” RSI readings, with the latest dip below 30 last occurring in September 2025. He added that traditional four-year cycle models are now less relevant—not because of the halving, but due to changes in debt refinancing, longer-term maturities, and liquidity dynamics. Bittel expects the bull market to extend into 2026.
