Bitcoin hit US$85K.
But honestly? The green candle wasn’t what caught my attention the most.
In the last 24 hours, nearly US$648 million in short positions were liquidated.
In other words: a lot of people who were betting on a drop were forced to close their positions by buying.
That helps push the price higher.
But there’s another detail…
Even after this cleanup, the market’s open interest has risen by about 7.6%.
To me, that makes the situation quite interesting.
The rally isn’t simply kicking out leveraged traders. New positions are coming in as the price goes up.
Could this become fuel for continuation?
It could.
But it also means the market is getting more heavily leveraged again.
At Z Smart DCA, I wouldn’t turn US$85K into a reason to chase the price.
I want to see whether, after the short-squeeze effect fades, there will be buyers capable of sustaining that range.
Because one thing is rising while shorts get liquidated.
Another is staying there afterward.
$BTC #bitcoin #crypto
What worries you more right now: staying out of the high or entering exactly when the market is becoming more leveraged?
Follow the profile to track these readings with me throughout the cycle.
But honestly? The green candle wasn’t what caught my attention the most.
In the last 24 hours, nearly US$648 million in short positions were liquidated.
In other words: a lot of people who were betting on a drop were forced to close their positions by buying.
That helps push the price higher.
But there’s another detail…
Even after this cleanup, the market’s open interest has risen by about 7.6%.
To me, that makes the situation quite interesting.
The rally isn’t simply kicking out leveraged traders. New positions are coming in as the price goes up.
Could this become fuel for continuation?
It could.
But it also means the market is getting more heavily leveraged again.
At Z Smart DCA, I wouldn’t turn US$85K into a reason to chase the price.
I want to see whether, after the short-squeeze effect fades, there will be buyers capable of sustaining that range.
Because one thing is rising while shorts get liquidated.
Another is staying there afterward.
$BTC #bitcoin #crypto
What worries you more right now: staying out of the high or entering exactly when the market is becoming more leveraged?
Follow the profile to track these readings with me throughout the cycle.
