Bitcoin returns to $42K as bets start favoring ‘short squeeze’ higher for BTC
There is increasing reason to believe that surprise gains, not losses, for Bitcoin will be the conclusion of the current BTC price phase, say analysts. Bitcoin (BTC) broke through $42,000 on Jan. 11 as expectations of a fresh “short squeeze” mounted.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewShort-term squeeze “reasonably likely”Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it recovered from Monday’s dip to $39,600 — its first breach of the $40,000 mark since September.While short-term bullish prognoses were conspicuously absent on the day,....
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A matter of a few hundred dollars could separate BTC price action from a "short squeeze," one trader believes. Bitcoin (BTC) returned to $20,000 on Sep. 2 amid renewed bets on a “short squeeze” higher.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTrader eyes $20,700 short squeeze triggerData from Cointelegraph Markets Pro and TradingView showed BTC/USD recovering from another dip below the $20,000 mark on the day, continuing rangebound behavior.The pair gave little insight into which direction the next breakout could be, with opinions differing on the surrounding....
As the world’s largest cryptocurrency, Bitcoin (BTC), continues to consolidate between the $58,000 and $60,000 price range with no clear direction, a bullish signal from the derivatives market suggests the potential for sudden and sharp rallies ahead for BTC’s price. Data Shows Aggressive Bitcoin Shorting According to crypto research firm K33 Research, the funding rate for Bitcoin perpetual futures has reached its lowest since March 2023, when the US bank failures rattled investors. This indicates a prevalence of downside bets, or short positions, on the cryptocurrency. K33 analysts....
The upcoming U.S. inflation report provides some familiar volatility as BTC price action hits six-day highs. Bitcoin (BTC) surged almost $1,000 in minutes on Jan. 12 as encouraging signs emerged from exchanges.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewData from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $43,468 Wednesday, its highest since Jan. 6.The pair had been due to continue volatile moves, traders said, with more and more favoring a push higher rather than a renewed downside.This would likely come in the form of a “short squeeze” against....
The bottom may not be in just yet for Bitcoin, but hope remains of a run to $90,000. Bitcoin (BTC) chopped and changed on Nov. 18 but held a critical support level to preserve the chance of new all-time highs.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView$90,000 remains on the tableData from Cointelegraph Markets Pro and TradingView followed BTC/USD as it ranged between $59,000 and $60,000 Thursday, seeing $1,000 swings in minutes.With the pair’s overall range becoming ever narrower, talk turned to a potential “short squeeze” entering to push its spot price to new, higher....
Data shows pro traders opened new leveraged long positions even as Bitcoin price dropped to $45,000 and $5.9 billion in futures contracts were liquidated. In the past 48 hours, Bitcoin's (BTC) price has dropped by $13,360 and more than $2.6 billion worth of futures contracts have been liquidated. When including altcoins, the total sum of liquidations equaled $5.9 billion.After marking a record-high open interest at $19.5 billion on Feb. 21, the metric has stabilized at $16.5 billion. This means that half of the terminated leverage positions have been reopened.According to the top traders'....