Short positions in Bitcoin reach 2.6 billion dollars! What does this signal for the market?
A sharp drop in Bitcoin’s price to 61,100 dollars on Friday triggered 335 million dollars in liquidations of leveraged long positions. However, recent market data now suggests that downside pressure may be more limited than before. With a notable buildup of short positions between 63,000 and 66,000 dollars, the risk of a 2.6 billion dollar squeeze looms large if prices rebound significantly.