Bitcoin Price Trapped Below $90K by Soaring Forced Liquidations

Bitcoin's price remains stuck below $90,000 as a wave of forced liquidations continues to weigh on the market. The number of long position liquidations has reached a three-year high of 32%, according to data from Axel Adler.

This metric measures the ratio between long and short liquidations across derivatives markets, with positive values indicating that long positions are absorbing the majority of losses.

November saw three distinct liquidation waves, each exceeding $400 million, which has amplified downside momentum rather than stabilizing price action. 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.