Bitcoin’s price is currently around $83,950, requiring a 3.5% increase to hit $86,900. This level could trigger a major short squeeze involving $615.42 million in short positions, highlighting the high leverage used by many traders.
The overall trend for BTC is becoming bullish, reflecting a recovery from recent volatility in March and April. While the $86,900 resistance is significant, traders should approach the situation cautiously, as market’s reaction could lead to increased volatility.
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