Bitcoin (BTC) is flashing a potentially unstable setup: as the price slid toward the low-$60,000s, bearish traders piled into leveraged shorts—creating what derivatives data suggests could become a $2.6 billion ‘short squeeze’ trigger if BTC reclaims the mid-$60,000 range.
The latest leg down accelerated late last week. On Friday ET, BTC briefly sank to around $61,100, wiping out roughly $335 million in leveraged long positions as forced liquidations cascaded across major exchanges. After a roughly 21% decline from recent highs, sentiment has turned sharply pessimistic—yet that pessimism may… Read more
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