Analysis: BTC breaks through $78k, and there is a high possibility of a short-term short squeeze.

Mars Finance reports that, according to The Block, Bitcoin’s price has surpassed $78,000, and the panic and greed index has moved out of the extreme fear zone. K33 Research states that Bitcoin may continue its upward momentum, with a high likelihood of more short squeezes in the short term. The K33 report points out that over the past week, interest rates have further decreased, while prices have risen to a three-month high. The open interest continues to increase, with the lows constantly rising. The leverage ratio is gradually rising, and combined with extremely low interest rates, it indicates that short positions are steadily growing, which not only increases the potential for future short squeezes but also raises their possible scale.