Hey, I saw some strange things in the Bitcoin market today. The funding rate dropped to -6%, which is quite rare, and that usually indicates that a lot of people are betting on a decline. But at the same time, the open contract volume increased significantly, going from 668,000 to 687,000 BTC. This is the classic sign of a possible short squeeze, you know? When the shorts have to cover positions and the price suddenly rises. In just the last 24 hours, more than 500 million in positions have been liquidated, most of them long positions. Bitcoin is now trying to recover and regain the 64,000 level, and many people are watching to see if it can. These contradictory signals tend to generate strong movement.

BTC-1.07%
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