$BTC just nuked $3B worth of shorts on the way to $72K
Classic short squeeze. Everyone positioned for a dump and the market said "nah"
This is why you don't fade strength. The liquidation cascade was brutal - probably the biggest wipeout we've seen in months
Rate cuts still on the table, ETF flows picking back up, and now you've got forced buying from liquidations pushing price higher
If you were shorting here you basically just donated your money to the longs
Classic short squeeze. Everyone positioned for a dump and the market said "nah"
This is why you don't fade strength. The liquidation cascade was brutal - probably the biggest wipeout we've seen in months
Rate cuts still on the table, ETF flows picking back up, and now you've got forced buying from liquidations pushing price higher
If you were shorting here you basically just donated your money to the longs