Bitcoin rose 5.6% in a single day, and much of it was due to a "short squeeze".
Yesterday, Bitcoin hit a high of $81,702, its best daily rise in weeks. The crypto market overall liquidated more than $370 million in bets against it in 24 hours, impacting nearly 110,000 traders.
What is a short squeeze, simply put? When a lot of people bet that the price will go down (using leverage) and the price moves against them, they’re forced to buy back to close their position and not lose more. This forced buyback pushes the price even higher, in a chain reaction.
What gives this move even more momentum wasn’t only the squeeze. Spot Bitcoin ETFs added close to $591 million in net inflows over the same period—real money entering, not just positions closing.
Do you think this level will hold, or are you expecting a pullback to test support? 👇
#Bitcoin #BTC #ShortSqueeze #CreatorPad
Yesterday, Bitcoin hit a high of $81,702, its best daily rise in weeks. The crypto market overall liquidated more than $370 million in bets against it in 24 hours, impacting nearly 110,000 traders.
What is a short squeeze, simply put? When a lot of people bet that the price will go down (using leverage) and the price moves against them, they’re forced to buy back to close their position and not lose more. This forced buyback pushes the price even higher, in a chain reaction.
What gives this move even more momentum wasn’t only the squeeze. Spot Bitcoin ETFs added close to $591 million in net inflows over the same period—real money entering, not just positions closing.
Do you think this level will hold, or are you expecting a pullback to test support? 👇
#Bitcoin #BTC #ShortSqueeze #CreatorPad
