Bitcoin (BTC) may have a clear path to $90,000 after $7.9 billion in short liquidations in February put pressure on the bears. Data show liquidations came in three waves that extended from February through April. The liquidations highlight a growing imbalance as BTC traders continue to build short positions above $80,000, while the price holds firm, creating repeat conditions for future short squeezes.
Repeat short squeezes pressure bears
Bitcoin researcher Axel Adler Jr. tracked over $7.9 billion in forced short liquidations since early February. The largest spike hit $737 million on Feb. 13, followed by multiple waves through March and April.
The liquidation volumes ranged from $2–28 million per day before jumping back to $175 million on May 4. That spike came during a quiet week, pointing to renewed short exposure near $80,000. The pattern shows consistent reloading of bearish positions at higher levels.
Bitcoin trend pulse. Source: Axel Adler Jr.
The trend pulse data adds context to this behavior. The model moved from bear mode into neutral mode in early April. The short-term momentum has turned positive, while the long-term trend awaits confirmation from a bullish crossover of the 30-day and 200-day simple moving averages (SMAs).
Axel Adler Jr. said each major liquidation wave formed while the trend pulse sat in neutral mode, a transition phase after bear mode without a full bullish confirmation.
The largest spikes all occurred during this phase. The price was effectively at a crossroads, while traders kept adding short positions.
That pattern shows repeated strength fading, followed by forced liquidations, creating pressure that can extend higher if current levels hold above $80,000-$81,500.
Related: Bitcoin price nears $82K as ‘big level’ sparks warning of fresh macro rejection
BTC price holds key breakout zone above $80,000
Market analyst Coin Niel pointed to continued BTC exchange outflows, with net flows of -837 BTC on May 5. The move signals ongoing accumulation, though smaller than the -6,590 BTC outflows on Monday, keeping the spot sell pressure limited.
Bitcoin open interest on all exchanges….
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