Bitcoin hits $85,000 as short squeeze forces out $648 million of bearish bets

📌 The Rundown:
• Bitcoin’s price surge to $85,000 triggered a massive short squeeze, erasing $648 million of bearish bets and pushing open interest up 7.59% to $156 billion—indicating traders are riding the rally rather than retreating.
• The spike in open interest signals heightened speculative activity and liquidity, suggesting that institutional and retail participants are increasingly willing to commit capital to BTC, potentially accelerating broader crypto‑asset adoption and market depth.

🎯 Strategic Outlook:
The sustained bullish momentum and growing open interest point to a strengthening Bitcoin ecosystem, likely driving higher institutional engagement and paving the way for more robust layer‑2 scaling solutions and tokenized derivatives that can further embed crypto into mainstream finance.

🚀 Top 24H Futures Outperformers:
• $ZETA (+75.9%) — Price: 0.0662
• $PHA (+69.8%) — Price: 0.0604
• $PTB (+53.4%) — Price: 0.001120

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