Bitcoin Surges Past $105,000 as Short-Squeeze Drives Price Rebound

Bitcoin experienced a notable rebound after a short-squeeze erased billions in bearish bets and reversed a 7% price drop from last week. This surge pushed the cryptocurrency back above $105,000 following its significant decline over last week. Large institutional investors known as whales, who previously displayed bearish sentiment, have begun to reduce their short positions, according to data analytics platform Alphractal. This shift suggests potential near-term price support for Bitcoin (BTC).