$CRYPTO JUST GOT HIT BY A MASSIVE SHORT SQUEEZE 🚨🔥
Around $3.5B in leveraged positions were reportedly liquidated between August 20 and 21, with shorts making up the majority.
That means traders betting on more downside were forced to close as prices suddenly moved higher. Bitcoin jumped around 8.5% in 24 hours, pushing back above $70K and helping the total crypto market gain roughly $280B in value.
But here’s the interesting part 👀
A huge liquidation event can fuel the rally because forced short closures create additional buying pressure. If BTC continues holding the higher levels instead of giving the move back, this could be more than just a temporary squeeze.
The next question is whether fresh buyers step in after the shorts are cleared. 📈
$BTC
$ETH
$BNB
Around $3.5B in leveraged positions were reportedly liquidated between August 20 and 21, with shorts making up the majority.
That means traders betting on more downside were forced to close as prices suddenly moved higher. Bitcoin jumped around 8.5% in 24 hours, pushing back above $70K and helping the total crypto market gain roughly $280B in value.
But here’s the interesting part 👀
A huge liquidation event can fuel the rally because forced short closures create additional buying pressure. If BTC continues holding the higher levels instead of giving the move back, this could be more than just a temporary squeeze.
The next question is whether fresh buyers step in after the shorts are cleared. 📈
$BTC
$ETH
$BNB