Bitcoin's Short Squeeze Leaves Rally Hunting for Real Buyers
Bitcoin surged past $72,000 on Thursday, driven primarily by a record short squeeze that forced bearish traders to exit their positions. However, the rally may lack sustainable momentum, as evidence suggests that fresh buying from leveraged long positions remains limited, raising questions about whether the gains are backed by genuine market demand.
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Bitcoin’s Short Squeeze Leaves Rally Hunting for Real Buyers
Bitcoin surged past $72,000 on Thursday, driven primarily by a record short squeeze that forced bearish traders to exit their positions. However, the rally may lack sustainable momentum, as evidence suggests that fresh buying from leveraged long positions remains limited, raising questions about whether the gains are backed by genuine market demand.
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