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Bitcoin Setup ‘Ripe’ for a Short Squeeze as Mt. Gox Shifts $850 Million in BTC Decrypt 21 Th08 2024

Bitcoin Setup ‘Ripe’ for a Short Squeeze as Mt. Gox Shifts $850 Million in BTC 📈

Mt.Gox Bitcoin

Negative perpetual funding rates for Bitcoin suggest that the majority of traders are shorting the cryptocurrency, betting on its price to fall.

A surge in open interest, which measures the total number of outstanding derivative contracts, adds further evidence to the potential of a short squeeze. This could result in a rapid price increase as traders rush to cover their short positions.

K33 noted that recent movements of $850 million in BTC from Mt. Gox further underscore the possibility of significant market shifts.

Nguồn: decrypt.co ↗

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