Bitcoin Price Rally Gains Momentum as Short Liquidity Hits $2 Billion

Bitcoin's price has been on the rise after hitting a yearly low at $59,000 last week. According to order book data and liquidity metrics, there is significant buying interest with over $2 billion in short liquidity concentrated near $65,000.

The bid-ask ratio has remained positive since last Friday, indicating that buy-side market orders have been slightly outpacing sell-side orders. The cumulative volume delta (CVD) data also shows improving buying activity from smaller cohorts and reduced net selling pressure from larger participants.

Crypto analyst Kripto Holder highlighted the $2.68 billion short-liquidity cluster near $64,600 as the primary upside liquidity pool. Analyst PILTR noted that BTC's long exposure has gradually increased over the past five days, creating an estimated $4 billion positive imbalance.