Bitcoin Eyes $80K as Liquidity Strengthens

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Several larger-cap alts, such as LINK and AVAX, have posted impressive gains.

Bitcoin’s price recovery continued in the past 24 hours as the asset reclaimed the $90,000 level and neared $93,000 for the first time since the crash earlier this week.

The altcoins are also well in the green on a daily scale, with XRP going close to $2.6, while SOL is near $150.

BTC Above $90K
It has been a wild ride in the cryptocurrency space in the past several weeks. Just this past Sunday, when BTC’s price had calmed at around $85,000 following the previous rollercoaster, President Trump confirmed plans to create the US crypto strategic reserve and namedropped several assets, including bitcoin.

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Data show Bitcoin futures traders are pursuing overhead short positions, raising the chance of a rally to $80,000.

A liquidity imbalance in Bitcoin (BTC) is building near $80,000, with more than $4 billion in short positions vulnerable to liquidation above that level. The setup strengthened after Bitcoin defended support near $76,100 for two days and formed bullish signals on the lower time frames.

BTC short liquidations stack above $80,000

On the one-hour chart, Bitcoin formed a bullish divergence between the price and the relative strength index (RSI), with improving momentum and higher lows near $76,100, suggesting underlying buying strength. BTC also retested $78,000 on Thursday after defending the $76,100 support level multiple times this week.

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