Bitcoin Rebounds Above $90,000: Bullish Sentiment Shifts as Bearish Traders Scramble to Cover Short Positions

A significant rebound in Bitcoin’s price has propelled it past the $90,000 mark. This surge caught bearish traders off guard, leading to a substantial liquidation of short (sell) futures positions worth over $390 million between April 21 and 22. Despite this setback, aggregate open interest in BTC futures remains relatively high at 5% below its all-time high, indicating that bearish bets remain partially intact. ]