It’s Time for a New Short-Squeeze!

Important points

• Bitcoin market participants are betting on another short squeeze, as liquidity floods exchange order book around the price.

• After a day of punishing longs, late shorts have been on our radar.

• Bitcoin is once again in control of the entire crypto market capital.

BitcoinBTC() rebounded on Thursday from its trip towards $117,000 amid hopes for a “massive” BTC Short Positions squeezed.

Bitcoin price rises as a result of Bitcoin

Data from Cointelegraph Markets Pro The following are some examples of how to get started: TradingView Bitstamp showed BTC/USD falling to local lows as $117,200.

It was a way to get rid of some bid liquid on order books but, at the time, the market players were aware that it had been done.

CoinGlass data confirmed the large accumulation of liquid assets above the current spot rate, thanks to a number of factors. Wednesday’s dip below $118,000.

Cointelegraph continues to reportThese liquidity clusters have a tendency to be grouped together. “magnet” Price changes can have a dramatic effect, as late-comers are punished with sudden increases or decreases.

“Bitcoin liquidity is piling up on the topside,” Mister Bitcoin is an investor, trader and crypto-currency expert. said In a recent post, X.com posted about the setup as it is currently. 

“A massive short squeeze is inevitable!”

Crypto Rover, a fellow trader described Short squeeze is a scenario that can be viewed as an “obvious” The next step.

Daan Crypto Trades, a trader from the day before, argued $120,000 and $115,000 as being the amounts. key price levels Monitor.

“$BTC Still stuck within this range. Lots of positions on both sides now,” He said.

“Eyes on those liquidity clusters below $115K & $120K. Would assume price wants to take both of those out at some point.”

BTC dominance is bouncing back

As Bitcoin began to take control of the crypto-market cap, there was a noticeable shift in altcoin’s momentum.

Related: ‘Altseason is here’ — 5 things to know in Bitcoin this week

BTC dominance is up by 0.5% today, adding to the existing recovery after reaching nearly 60%.

Rekt capital, a trader and analyst who specializes in cryptocurrency analysis and trading, noted the Bitcoin’s superiority over altcoins.

“The Altcoin market is reacting as if Bitcoin has broken down from its Range. But it hasn’t,” He said On Wednesday,

“In fact, it’s retesting the Lower High and Range Low as support. The retest is in progress.”

Cointelegraph has reported earlier on capital rotation Alts as BTC momentum flips to consolidation.

This article contains no investment recommendations or advice. Each investment or trading decision involves some risk. Readers should do their own research before making any decisions.