Bitcoin Approaches the $90,000 Mark, Leverage Game and Liquidation Risk Become Market Focus

After briefly touching a high of $87,374, Bitcoin quickly retraced, with the market’s attention fixed on the key psychological threshold of $90,000. The core suspense at present is whether, as the price approaches this target, the potential short-squeeze liquidation risk will turn into fuel driving the rally or become a hidden danger triggering violent fluctuations. Although the price has not yet firmly established itself above $90,000, the massive leverage hanging overhead has injected extremely high sensitivity into the market, and any small price movement could trigger a chain reaction.

Price Trajectory and Liquidation Map

Bitcoin broke through the $87,000 mark on September 21. The four-hour chart on the Bitstamp platform showed that it touched a high of $87,374 that day, but the strength did not last, and it subsequently fell back to about $86,865, still about 3.5% away from the $90,000 target. This round of gains continued the trend since approaching a high of about $82,800 in May 2026. When it broke through the key resistance level of $84,000, it forced short sellers to close their positions, providing direct impetus for the price increase.