Bitcoin’s 2024 Bear Trap: A Short Squeeze Spectacle!

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Key points:

  • Bitcoin’s price weakness, a most delightful form of masochism, may culminate in a giant short liquidation event as bears grow overly comfortable-how tragically predictable!

  • A new forecast suggests market makers, those sly foxes, are orchestrating a bear trap with the precision of a Victorian parlour game. 🐻‍🤝‍🐻

  • BTC’s price action has returned to $113,000, liquidating blocks of shorts with the grace of a well-timed punchline. 💸

Bitcoin (BTC) is due for its “next major short squeeze” within weeks, as market makers lay the ultimate bear trap-how delightfully theatrical!

A new forecast by the illustrious Luca this week posits that BTC’s price action will repeat the late 2024 breakout, a performance so anticipated it’s practically a pantomime. 🎭

The Art of the Bear Trap

Bitcoin exchange order books, those enigmatic oracles, may hold the key to BTC/USD’s fate in the coming weeks-and bulls, those dashing heroes, will benefit. 🦄

Observe recent price performance, and one must conclude that the absence of fresh higher highs is, in fact, a masterstroke of deception. 🕵️‍♂️

“Look at how the price action has developed for $BTC over the last couple of weeks, since we topped out in mid-August. Not one single high got swept,” he wrote, with the flair of a poet. 📜

“I think the reason is that shorts are getting protected on the short-term.”

The theory, as charming as it is sinister, posits that market makers keep the market artificially rangebound to convince short sellers their bets will pay off-how very Victorian of them. 🏰

“We’ve seen something similar before, back in 2024, all throughout that MASSIVE consolidation phase when the highs never got tapped until we actually had the breakout in November,” the post continues, referencing last year’s seven months of sideways price action-a dance of suspense. 🕺

The longer such a scenario persists, the more “complacent” bears become-setting up ideal conditions for a short squeeze liquidation event. Luca concluded:

“I believe this is what will lead to the next major short-squeeze in the coming weeks and even though it may seem counterintuitive, I think that shorts getting protected right now and the highs not getting swept is a very positive indication moving forward.”

BTC Price Breakout “Fully Confirmed”

As CryptoMoon reported, many market participants are convinced that new lower lows will come for Bitcoin next-how dreadfully predictable! 🎭

$100,000 remains a popular downside target, with arguments focusing on phenomena such as bearish divergences on leading indicators. A most tedious affair. 🧠

BTC/USD returned to $113,000 on Friday, with CoinGlass data showing around $100 million of crypto short liquidations in the past 24 hours. A spectacle of financial drama! 💰

This was enough for some to call the end of the correction from all-time highs, which began in mid-August-a most theatrical conclusion. 🎭

“Bitcoin has technically fully confirmed its breakout,” declared the esteemed Rekt Capital, accompanied by a chart update as dramatic as a Shakespearean soliloquy. 🎭

“A Daily Close and/or retest of the ~$113k region (red) would ensure additional trend continuation to the upside.”

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2025-09-05 12:01