👀 Short Liquidations Drove $BTC 's August Rally Bitcoin gained 24.6% in just 5 August days - but active leverage actually fell 12.6% during the move. According to a new Glassnode x Bybit derivatives report, the rally was driven much more by shorts being forced out than by traders opening fresh bullish positions. The numbers make that clear: 🔎 roughly 64,000 $BTC of open interest disappeared 🔎 shorts accounted for 89% of liquidated dollars 🔎 puts had traded richer than calls for 361 consecutive days - until one session suddenly broke the streak 🔎 the short end of the futures curve repriced sharply, while longer maturities barely moved That last point matters. The market reacted as if something violent had happened right now, not as if the entire long-term outlook had suddenly changed. 📊 And we’ve already seen a similar setup again this week: BTC pushed back above $80K while another wave of shorts was liquidated. So a green candle doesn’t always mean new buyers rushed in. Sometimes the first fuel comes from traders who were positioned the wrong way. The stronger confirmation would be seeing spot demand and fresh positioning continue after the squeeze itself runs out of fuel. #Bitcoin Price Prediction: What is Bitcoins next move?#