Bitcoin Price Stuck Below $90,000 as Forced Liquidations Reach Three-Year High

Bitcoin's price remains stuck below $90,000 as a wave of forced liquidations continues to drive selling pressure. Data from Axel Adler shows that long positions are dominating the liquidation landscape, with sellers maintaining control and preventing any sustained recovery attempts.

The liquidation dominance oscillator has reached 32%, marking one of the highest readings recorded in the past three years. This metric measures the ratio between long and short liquidations across derivatives markets, with positive values indicating long positions absorbing the majority of losses.

Three distinct liquidation waves occurred in November, each exceeding $400 million and aligning with sharp declines in Bitcoin's price. The most recent flush totaled $221 million and occurred as BTC attempted a short-term recovery, immediately reversing gains and pushing the asset back toward the $86,000 region.