Bitcoin price climbs to new multi-month highs. Forced selling by short traders and increasing open interest suggest bulls may be driving the price towards $90,000.

Bitcoin has reached its highest price in months, driven by a wave of short liquidations. This event occurs when traders who bet against an asset are forced to buy it back to cover their losses, further increasing its price. Rising open interest, a measure of the total value of outstanding derivative contracts, also signals growing confidence among traders. These factors combined suggest that optimistic investors, or bulls, are pushing the price of Bitcoin higher, with some analysts predicting a potential rise towards the $90,000 mark.