Bitcoin Hits 3-Month High: $457 Million in Short Positions Liquidated

Bitcoin reached $81,300, its highest level in three months, driven by growing concerns over the U.S. fiscal outlook and pressure on the dollar. The cryptocurrency has risen in eight of the last nine trading sessions, showing a strong recovery. This sharp rally negatively impacted investors who had opened short positions, betting on a price decline. According to market data, over $457 million in Bitcoin short positions were liquidated in the last 24 hours, indicating that bearish bets suffered significant losses amid the market movement. Analysts attribute the rally to macroeconomic factors as well as an increase in investor risk appetite. A weakening dollar index has boosted interest in alternative investment vehicles, and Bitcoin has benefited from this environment. Experts emphasize that volatility may remain high in the short term and that investors should manage their positions carefully. However, if the current trend continues, Bitcoin is expected to test new resistance levels. This is not investment advice.