Bitcoin Short Positions Surge to $19 Billion, Potential for Squeeze Looms

The cryptocurrency market is experiencing a significant bearish trend as short positions against Bitcoin have reached an alarming level of nearly $19 billion across major exchanges. Data from CoinGlass reveals a concentrated surge in leveraged bets specifically targeting the $110,000 to $113,000 price range for Bitcoin. This increase in open short interest raises questions about whether a short squeeze might be brewing. 30-day cumulative short liquidation levels have steadily climbed while long liquidations have decreased, suggesting traders are increasingly betting on a deeper correction in the market.