Bitcoin Price Squeeze: Short Traders Get Squeezed Like a Lemon

🚨 Bitcoin Price Squeeze: Short Traders Get Squeezed Like a Lemon 🍋

It’s a beautiful day in the world of cryptocurrency, and the Bitcoin price is soaring like a phoenix from the ashes (or in this case, from the depths of despair). The price surge towards $87,000 has sent short liquidations into overdrive, forcing bearish traders to close their positions at a loss. It’s like a big game of musical chairs, but instead of chairs, it’s Bitcoin, and instead of music, it’s the sound of short traders crying themselves to sleep at night.

Bitcoin Price Surge Trigger Massive Short Liquidations

According to Coinglass, the liquidation heatmaps are looking like a map of a war zone, with Bitcoin alone accounting for a whopping $77.33 million in liquidations, with a staggering $67.04 million coming from short positions. It’s like a big short squeeze, where long positions are the cool kids in school, and short traders are the ones getting picked on.

Coinglass shows that in the past 24 hours, the total crypto market liquidations have surpassed $200 million, with a whopping $143 million loss from short positions. Exchange data reveals that Bybit, a renowned crypto exchange, led the charge with $32.65 million in BTC short liquidations, followed by Binance with $16.45 million, and other exchanges that are probably crying themselves to sleep at night.

Notably, this large-scale liquidation event signals a classic short squeeze, where long positions are more favored as short traders are pushed to buy at a loss, leading to a stronger surge in the BTC price. It’s like a big game of Jenga, where short traders are the ones removing the blocks, and long positions are the ones building the tower.

Currently, Bitcoin’s price is trading at $87,415, closely regaining its previous bullish momentum. The cryptocurrency has skyrocketed by 3.65% in the past 24 hours, aligning with the increase in liquidation amongst short traders. It’s like a big rollercoaster ride, where short traders are the ones screaming their lungs out, and long positions are the ones laughing all the way to the bank.

Just this past month, Bitcoin was trading under $85,000, with this decline driven by broader market volatility and widespread liquidations. Despite the price crash, the cryptocurrency’s trading volume has remained relatively high, increasing by 124%, according to CoinMarketCap. It’s like a big game of musical chairs, but instead of chairs, it’s Bitcoin, and instead of music, it’s the sound of short traders crying themselves to sleep at night.

With BTC finally reclaiming the $87,000 mark, analysts are optimistic about its future outlook. Crypto VIP signal, an analyst on X (formerly Twitter), has revealed that the next local resistance for Bitcoin is between $87,000 and $87,400. If the pioneer cryptocurrency can surpass this range, the analyst predicts a surge toward $89,000 – $90,000 and then another rally between $92,000 – $93,000. It’s like a big game of Jenga, where short traders are the ones removing the blocks, and long positions are the ones building the tower.

Whales Go On Buying Spree As BTC Surpasses $87,000

While Bitcoin surges past $87,000, whales are accumulating large amounts of BTC despite growing concerns of a potential decline. Notably, an X parody of Michael Saylor, the founder of MicroStrategy, has highlighted a recent increase in Bitcoin whale activity.

According to the reports, whales are buying Bitcoin during price dips, possibly in anticipation of future price increases. A chart from CryptoQuant was shared, tracking Bitcoin’s liquidity inventory and demand from accumulator addresses. The circled regions in the chart show periods when whale demand spiked significantly, aligning with price surges. The recent increase in whale activity suggests a renewed interest in BTC as its price attempts to recover from previous price declines and market volatility.

2025-03-24 18:48

Bitcoin Price Surge Trigger Massive Short Liquidations

Whales Go On Buying Spree As BTC Surpasses $87,000

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