This rally to 80,000+ in Bitcoin was pushed up by getting liquidated short positions.
Margin futures positions hit a 5-month low; the positions using BTC as collateral fell to an all-time low—only 52,000 BTC remain, about 11% of the total market.
Translated, it means: when the price surged hard, open interest actually collapsed. That shows it wasn’t longs piling in—it was shorts疯狂 (frenziedly) closing out, even cutting losses to buy back.
The data is very straightforward: during this upswing, tens of billions of dollars worth of short positions were force-liquidated, literally squeezing the price above 80,000.
This is textbook short-squeeze behavior: the “air force” lined up to get liquidated, and the fuel was entirely their positions.
Most of what got wiped out were aggressive high-leverage shorts; the positions left behind are clearly more resilient.
What’s interesting is that the perpetual funding rate has stayed below 10%, suggesting longs weren’t overly irrational either—everyone is watching from the sidelines, and nobody dares to go heavy here.
This kind of structure is actually a good thing: leverage has been cleared, so the market can move more steadily. It’s less like stepping on the gas and slamming the brakes.
Historically, several major-scale rallies often start right after shorts have been cleared. In the 2019 small bull run and the 2020 big bull run—before takeoff, they all came with something like this first.
Now that the derivatives market has been “lightened,” real money can slowly flow in afterward. Whether it’s a true trend or just an emotion-driven one-day ride depends on whether trading volume can keep up.
Don’t rush to chase price higher. First, see whether this signal can sustain. What the market fears most is charging up in one go and then dispersing.
Every day, I’ll keep you focused on Bitcoin hotspots—not just what happened in the news, but also the underlying logic and opportunities behind it 👀🚀
Click the link below to follow me👇🏻加入小恐龙粉丝群
#Bitcoin #ShortSqueeze #Futures
Margin futures positions hit a 5-month low; the positions using BTC as collateral fell to an all-time low—only 52,000 BTC remain, about 11% of the total market.
Translated, it means: when the price surged hard, open interest actually collapsed. That shows it wasn’t longs piling in—it was shorts疯狂 (frenziedly) closing out, even cutting losses to buy back.
The data is very straightforward: during this upswing, tens of billions of dollars worth of short positions were force-liquidated, literally squeezing the price above 80,000.
This is textbook short-squeeze behavior: the “air force” lined up to get liquidated, and the fuel was entirely their positions.
Most of what got wiped out were aggressive high-leverage shorts; the positions left behind are clearly more resilient.
What’s interesting is that the perpetual funding rate has stayed below 10%, suggesting longs weren’t overly irrational either—everyone is watching from the sidelines, and nobody dares to go heavy here.
This kind of structure is actually a good thing: leverage has been cleared, so the market can move more steadily. It’s less like stepping on the gas and slamming the brakes.
Historically, several major-scale rallies often start right after shorts have been cleared. In the 2019 small bull run and the 2020 big bull run—before takeoff, they all came with something like this first.
Now that the derivatives market has been “lightened,” real money can slowly flow in afterward. Whether it’s a true trend or just an emotion-driven one-day ride depends on whether trading volume can keep up.
Don’t rush to chase price higher. First, see whether this signal can sustain. What the market fears most is charging up in one go and then dispersing.
Every day, I’ll keep you focused on Bitcoin hotspots—not just what happened in the news, but also the underlying logic and opportunities behind it 👀🚀
Click the link below to follow me👇🏻加入小恐龙粉丝群
#Bitcoin #ShortSqueeze #Futures
