Tag: longs

Short Squeeze Catapults Price of Bitcoin Past $7,600

Just hours after short positions on Bitcoin eclipsed longs, and as BTC shorts volume reached an all-time high, Bitcoin saw an explosion, appreciating over US$900 in under an hour, a growth of 13%. Since the pump, global cryptocurrency markets have risen over 10%, to just under US$300 billion. Speculators overwhelmingly agree that the cause for such a price movement was a textbook short squeeze. A short squeeze occurs when a …
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