Bitcoin Is Back Near September Highs – And Shorts Are Stacked Just Above Market

Key Summary

Bitcoin traded above $86,000 on Monday, its highest since September, as futures leverage declined and funding rates remained below 4%. A cluster of leveraged shorts sits near $90,000, where forced liquidations could occur if the cryptocurrency breaks higher, potentially setting the stage for a sharper move. According to Glassnode, this cluster is the largest overhead liquidation point for Bitcoin, with over 100,000 leveraged shorts.