K33 Research, a prominent crypto market analytics firm, indicates that Bitcoin derivatives data shows an increasing risk of a major 'short squeeze'.
A short squeeze could lead to a sharp rise in Bitcoin prices, potentially reaching $70,000.
The analysis highlights the funding rate for Bitcoin perpetual futures as the supporting data for this prediction.
The findings were detailed in a recent report by K33 Research.
Source: www.thecoinrepublic.com ↗
