🚀 Bitcoin's on a rollercoaster, hitting a new high of $75,000, leaving short sellers $180 million lighter! Traders are betting on a crypto summer comeback, with spot buying driving the demand. Pav Hundal from Swftyx says it's almost all buy action now.

- Bitcoin short positions took a $251 million hit, with Dogecoin shorts losing $47 million.

- Spot market demand is fueling the rise, not derivatives, meaning this could stick around.

- Options traders see election-driven volatility peaking, with a 15% chance of Bitcoin hitting $100k by year-end.

Hold onto your hats, crypto enthusiasts!