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On April 18, according to CryptoQuant analyst @AxelAdlerJr, amid overnight US-Iran news, Bitcoin rebounded from $74k to $78k, and this move shows all the classic signs of a short squeeze. By just 21:00, the market had already absorbed a short liquidation peak of $357 million.
@AxelAdlerJr believes this rebound was not amplified by fresh demand, but driven by the forced closure of short positions. “This is important because a short squeeze can make prices rise very rapidly—however, on its own, it cannot confirm sustainable spot demand.” #GatePreIPOs首发SpaceX