Bitcoin at Risk of ‘Long Squeeze’ Amid Rise to New Highs

Recent price surges in Bitcoin (BTC) have propelled it to a daily peak of $105,800, but the momentum has since softened, with BTC falling by 3% to settle at around $101,000. Despite this dip, Bitcoin remains at the forefront of investor interest as analysts warn of potential risks. Joao Wedson, CEO of data analytics platform Alphractal, highlighted that Bitcoin is caught between two key factors – long-term profit taking by investors and a looming ‘long squeeze.’ 🧐