Cryptocurrency is tightly linked to the US stock market: the Nasdaq has been red for 10 straight days, and institutional and retail investors’ risk appetite has rebounded, so high-risk assets like Bitcoin are naturally pulled up together. The total crypto market capitalization surged by about $100 billion over 24 hours, perfectly timed with the US stock market’s rally.

Negative funding rates + a rush of short sellers—triggering a short squeeze explosion.
In the two days when the lockdown order was announced, the funding rate for Bitcoin perpetual contracts turned negative—meaning short sellers had to pay money to longs. This shows that short sellers are too crowded, making it the perfect powder keg for a short squeeze.
When the price rises, shorts are forced to close and the buy-to-cover demand keeps rising, pushing the price higher and higher, creating a chain-reaction blast. CoinDesk data: above $75,000, there are another $200 million in short positions waiting to be liquidated—touch it and it can trigger another surge.

#WCTC交易赛瓜分800万USDT