Bitcoin Hits New All-Time High of $90,788, Driven by Bearish Sentiment

Bitcoin has reached a new record high of $90,788.92, breaking past the upper Bollinger Band and signaling strong bullish demand in recent rallies. Binance data reveals that 59.79% of traders opted for short positions, highlighting a bearish outlook despite the positive price performance. Stochastic RSI readings hover close to extreme highs, indicating solid buying pressure as bulls attempt to push prices past $92,620. This move suggests a cautious market sentiment, with short positions still dominating despite the ongoing climb.