Bitcoin has broken above $85,000 as renewed U.S. buying and forced short covering have put Nansen’s next targets at $87,000 and $90,000, even as large crypto traders remain net short.
Summary
- Bitcoin has cleared $85,000, leaving $87,000 and $90,000 as Nansen’s next levels.
- Hyperliquid’s largest Bitcoin traders remain net short despite the price breakout.
- Positive Coinbase premium and firmer USDT pricing point to renewed spot demand.
- ETF flows, Treasury yields and Friday’s options expiry could determine whether the rally holds.
Nansen Senior Research Analyst Nicolai Sondergaard told crypto.news that Bitcoin’s price has turned bullish faster than positioning among crypto-native traders, creating room for underexposed market participants to chase the r…
