Bitcoin $BTC 5: A rare short squeeze that clears out the futures powder keg overnight
CoinDesk’s read on this market move: a once-in-a-history level short squeeze. Bitcoin surged from around 62,000 to above 80,000 within a week—up roughly 25%—the second-largest weekly gain in nearly five years. But the driving force wasn’t spot buyers rushing in; it was shorts being forced to cover. Earlier, short positions had piled up too heavily. Once the price broke the level, liquidations piled in—pushing the price up another notch—back and forth repeatedly.
The most important data to watch is in the futures market: open interest has collapsed sharply, and the powder keg has essentially been emptied. Paper shorts are the fuel for this rally. Once that fuel burns out, whether prices can continue climbing depends on whether the baton is picked up by real, cash-and-carry ETF inflows and spot demand.
Today the broader market is catching its breath. Bitcoin is back near $79,000, down slightly 1.9%. The $SOL retraced, dropping to $97 and down 4.4%, though it still holds the record for the single-day 4.2 billion transactions. The $ETH level holds around $2,460, down 1.6%. The collective unwind after the squeeze isn’t necessarily bad news—leverage has been washed out, leaving the foundation cleaner.
#比特币受阻于81000美元50周均线 #Solana现货ETF累计净流入创纪录12.2亿美元
The key question is worth thinking about: after the shorts are cleared out, who takes the baton? If the price thereafter is truly set by spot demand, then this won’t be just a squeeze sideshow—it could mark the start of a trend. A ramp can generate candles, but only by pooling together can history be made. Ma’s favorite little dog—the bet is always on the latter.
🐶 一起来看马老板的小狗狗 ✨🚀
CoinDesk’s read on this market move: a once-in-a-history level short squeeze. Bitcoin surged from around 62,000 to above 80,000 within a week—up roughly 25%—the second-largest weekly gain in nearly five years. But the driving force wasn’t spot buyers rushing in; it was shorts being forced to cover. Earlier, short positions had piled up too heavily. Once the price broke the level, liquidations piled in—pushing the price up another notch—back and forth repeatedly.
The most important data to watch is in the futures market: open interest has collapsed sharply, and the powder keg has essentially been emptied. Paper shorts are the fuel for this rally. Once that fuel burns out, whether prices can continue climbing depends on whether the baton is picked up by real, cash-and-carry ETF inflows and spot demand.
Today the broader market is catching its breath. Bitcoin is back near $79,000, down slightly 1.9%. The $SOL retraced, dropping to $97 and down 4.4%, though it still holds the record for the single-day 4.2 billion transactions. The $ETH level holds around $2,460, down 1.6%. The collective unwind after the squeeze isn’t necessarily bad news—leverage has been washed out, leaving the foundation cleaner.
#比特币受阻于81000美元50周均线 #Solana现货ETF累计净流入创纪录12.2亿美元
The key question is worth thinking about: after the shorts are cleared out, who takes the baton? If the price thereafter is truly set by spot demand, then this won’t be just a squeeze sideshow—it could mark the start of a trend. A ramp can generate candles, but only by pooling together can history be made. Ma’s favorite little dog—the bet is always on the latter.
🐶 一起来看马老板的小狗狗 ✨🚀
