Bro, I’m seeing some strange things in the Bitcoin market right now. Funding rates have fallen to -6%, which is basically a sign that there are a lot of traders with leveraged short positions. When this happens, you get that short squeeze scenario—basically when sellers need to cover their positions and that creates strong buying pressure.

Remember when BTC dropped to US$63.000 a few weeks ago with that geopolitical tension? Well, since then, open interest has only increased; it went from 668k BTC to 687k BTC. That means more people are getting in on the action, both buyers and sellers.

What catches my attention is that in the last 24h, more than US$500 milhões in positions were liquidated, and the long positions took the worst of it with more than US$420 milhões liquidated. Now BTC is trying to recover the US$64.000 mark, and looking at the current data, it’s already at $79.08K with +5% over the last 24h, so it really seems like that buying pressure the analysts predicted is actually playing out.

If this keeps up, this possibility of a short squeeze could become a reality. I’m just watching the move for now.