Is a Short Squeeze Incoming? 🩸
Dry markets and forced selling paint a grim picture, but a glimmer of hope emerges! With most longs gone and a cluster of shorts liquidated around $68,800 for #Bitcoin , a potential short squeeze could be brewing.
Here's the breakdown:
Low Liquidity: Selling pressure has dried up for $BTC available assets, potentially limiting further downside.
Long Liquidation: The majority of those holding long positions have likely been forced out.
Short Squeeze Signal: A large concentration of short positions being liquidated around $68,800 suggests a potential reversal could be on the horizon.
This doesn't guarantee a bounce, and market conditions can change rapidly.
