
Data on open interest indicates that the rally is probably due to short-covering instead of new long positions being established in the market.
Bitcoin Surpasses $89,000, Marking a Rare Increase in U.S. Markets
Ethan Carter
Ethan is a seasoned cryptocurrency writer with extensive experience contributing to leading U.S.-based blockchain and fintech publications. His work blends in-depth market analysis with accessible explanations, making complex crypto topics understandable for a broad audience. Over the years, he has covered Bitcoin, Ethereum, DeFi, NFTs, and emerging blockchain trends, always with a focus on accuracy and insight. Ethan's articles have appeared on major crypto portals, where his expertise in market trends and investment strategies has earned him a loyal readership.
