Recently, data has shown that about 57.77% of open positions in the Bitcoin derivatives market are short positions, indicating that many traders are betting on a price decline. However, if the price rises above certain levels, these traders may face a short squeeze where their positions are forcibly liquidated, increasing the buying of Bitcoin and sending the price up suddenly.

As October approaches, a month known for its historic highs for Bitcoin, some are predicting that the market will see significant gains that could surprise bearish traders. In this case, Bitcoin could see an unexpected spike, and the next upside move could be bigger than they imagined.