$CAP up 30.8% while BTC barely moved half a percent. nothing in the broader market explains this one, it's running entirely on its own.
shorts are paying 0.194% every 4h to be on the wrong side of it, about $211K a day out of their pocket into longs' wallets, same read on binance and bybit so it's not some exchange glitch. $346K of positions got pulled in the last hour too, people bailing mid squeeze.
price already cooled off from the highs it hit earlier today, sitting mid-range now after running hot in the first half. the squeeze did its damage, question is whether shorts keep feeding it or finally tap out.
NFA
shorts are paying 0.194% every 4h to be on the wrong side of it, about $211K a day out of their pocket into longs' wallets, same read on binance and bybit so it's not some exchange glitch. $346K of positions got pulled in the last hour too, people bailing mid squeeze.
price already cooled off from the highs it hit earlier today, sitting mid-range now after running hot in the first half. the squeeze did its damage, question is whether shorts keep feeding it or finally tap out.
NFA