Bitcoin is boosting the chances of a fresh push toward $90,000 after $7.9 billion of short positions were liquidated since February. Cointelegraph reported on Monday that short positions kept building as bitcoin held above $80,000, which was cited as a factor raising the odds of another short squeeze.

Bitcoin researcher Axel Adler Jr (악셀 애들러 주니어) estimated that forced short liquidations have topped $7.9 billion since early February. The liquidations came in 3 waves from February to April. The biggest spike was $737 million on Feb. 13. Daily liquidations jumped again to $175 million on May 4 from $2 million to $28 million previously, indicating bearish bets have increased again around $80,000.

Trend indicators also supported bitcoin's move. A related model shifted from bearish mode to neutral mode in early April. Short-term momentum turned higher. The long-term trend has yet to see a bullish cross of the 30-day simple moving average and the 200-day simple moving average. All major liquidation waves also appeared within this neutral zone. The analysis said short positions repeatedly built up at a turning-point area, and upward pressure could persist if the price holds above $80,000 to $81,500.

Supply-and-demand indicators also showed spot selling pressure was not large. Market analyst Coin Neill (코인 닐) pointed on Monday to net exchange outflows of 837 BTC. That was smaller than the previous day's 6,590 BTC net outflow, but spot selling pressure stayed limited as coins continued to move off exchanges.

Derivatives indicators pointed to the possibility of bigger volatility. The funding rate was around -0.0045, suggesting long positions were not heavily overheated, but pressure on shorts continued. Bitcoin open interest across exchanges rose 6 percent to $29.0 billion, the highest since Jan. 31.

Technically, bitcoin broke above a downtrend line that had capped gains throughout April. The 100-day exponential moving average is acting as support just below the current price. The area around $81,500 overlaps with the average entry price of short-term holders. It was cited as a level where recent buyers can keep positions in profit and reduce selling pressure.

This move shows how the buildup and liquidation structure of short positions can influence bitcoin's near-term direction more than a simple price rebound. With spot outflows, rising open interest and concentrated liquidations at key levels interacting, the area around $80,000 has emerged as a short-term inflection point.