$BTC This sharp surge is, in essence, still a short-covering-driven squeeze market rather than a trend-based reversal. Looking back historically, sustained bull markets are often advanced by steady, incremental “bulldozer-like” gains that complete handover, and they rarely show continuous large bullish candles at the daily level with no pullbacks. After all, if the main players keep lifting prices with market buy orders, their funding costs and the consumption of their available shares are difficult to sustain.
From the data, BTC has also risen by 25% or more. Funding rates have spiked to over 60% annualized, and the long-to-short positioning ratio is 2.8—placing it in an extreme “greed” zone. Nearly 80% of shorts have been liquidated. Everyone is calling for a bull comeback, and FOMO sentiment has peaked. That often means the short-term long momentum is likely to be running out. After the squeeze climax, leveraged longs themselves become the new fuel. If fresh capital cannot step in to carry the move, the balance of liquidation will most likely tilt toward the long side; then a round of panic selling—multi-kills against multi-kills—will form. A short squeeze is the fire; the bull comeback is the furnace. Fire being strong doesn’t mean the furnace is stable. When everyone becomes convinced of a reversal, exiting may be safer than chasing higher prices.
From the data, BTC has also risen by 25% or more. Funding rates have spiked to over 60% annualized, and the long-to-short positioning ratio is 2.8—placing it in an extreme “greed” zone. Nearly 80% of shorts have been liquidated. Everyone is calling for a bull comeback, and FOMO sentiment has peaked. That often means the short-term long momentum is likely to be running out. After the squeeze climax, leveraged longs themselves become the new fuel. If fresh capital cannot step in to carry the move, the balance of liquidation will most likely tilt toward the long side; then a round of panic selling—multi-kills against multi-kills—will form. A short squeeze is the fire; the bull comeback is the furnace. Fire being strong doesn’t mean the furnace is stable. When everyone becomes convinced of a reversal, exiting may be safer than chasing higher prices.
