to Binance And to Coinbase After the lawsuits filed, the withdrawal in the crypto money markets did not last long.
While risks and pressures on altcoins continued, Bitcoin dominance rose to 51% and with the rise earlier today, Bitcoin reached the $ 29,000 limit again.
We have witnessed such rises before to liquidate short positions accumulated after bad news. So, is the last rally in Bitcoin a short tightening operation, or is someone really buying Bitcoin?
Ki Young Ju, CEO of popular data analytics company CryptoQuant in bitcoin He said that the recent bullish wave was not about squeezing shorts and that someone actually bought Bitcoin.
“This is not a short squeeze rally. someone is too much bitcoin taking.
I repeat.
This is not a short squeeze rally. someone is too much bitcoin taking.
”
Sharing the Bitcoin Short Squeeze Ratio indicator, Ju stated in his post on June 16 that the rise is organic and that a short squeeze has not occurred yet.
According to Ju’s post in bitcoin There is still a bullish opportunity to squeeze the shorts.
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