Bitcoin reaches ‘short squeeze’ trigger zone

Those betting on further downside begin to see setbacks as Bitcoin starts the Wall Street trading week with a spike higher.

The move signaled welcome relief for hodlers, who had looked on as the pair dove increasingly below
$20k during the weekend.

Now, with the market “aggressively short positioned,” conditions appeared to favor a further relief bounce to burn those nursing short trades.

Hard to get too excited

submitted by /u/BakedScones
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