Bitcoin’s Short Squeeze Shenanigans: Will It Moon or Go Splat? 🚀💥

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Key points, old sport:

  • The Bitcoin chappies are all atwitter about a spiffing short squeeze, what with liquidity piling up like Aunt Agatha’s tea cups. 🍵💰

  • Late shorts are in the crosshairs, poor blighters, after giving longs a jolly good thrashing the day before. 😈📉

  • Bitcoin’s back in the saddle, reclaiming its throne in the crypto market cap circus. 🏰🤹‍♂️

Well, I’ll be jiggered! Bitcoin (BTC) bounced back from a jolly unpleasant dip toward $117,000 on Thursday, all on account of hopes for a “massive” squeeze of those pesky BTC short positions. Talk about a spot of good fortune! 🍀📈

Bitcoin Sets the Stage for a Spiffing Upward Spike

Data from CryptoMoon Markets Pro and TradingView, those clever beans, showed BTC/USD taking a tumble to local lows of $117,200 on Bitstamp. Rather cleared out a bit of bid liquidity, what? But on the day, it was the asks that had everyone’s eyebrows raised. 🧐📊

CoinGlass, that trusty old monitor, confirmed a whopping build-up of overhead liquidity above the spot price, all thanks to Wednesday’s dip below $118,000. Bit of a pickle for the latecomers, eh? 🥒💼

As CryptoMoon keeps droning on about, these liquidity clusters have a “magnet” effect on price, rather like Jeeves’s ability to attract trouble. Late entrants often find themselves in a spot of bother, what with those snap moves up or down. 🧲💨

“Bitcoin liquidity is piling up on the topside,” Mister Crypto, that old egg, summarized in a post on X. “A massive short squeeze is inevitable!” he declared, with all the confidence of a man who’s just won the annual village cricket match. 🏏💥

“A massive short squeeze is inevitable!”

Crypto Rover, another chap in the know, described the short squeeze scenario as the “obvious” next step. Can’t say I disagree, old bean. 🕵️‍♂️🔮

The day prior, Daan Crypto Trades, that clever fellow, argued that $120,000 and $115,000 were the key price levels to keep an eye on. “$BTC Still stuck within this range. Lots of positions on both sides now,” he remarked, as if explaining the rules of a particularly complex game of bridge. 🃏🤔

“Eyes on those liquidity clusters below $115K & $120K. Would assume price wants to take both of those out at some point.”

BTC Crypto Cap Dominance Bounces Back, By Jove!

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Rekt Capital, that popular trader and analyst, noted that Bitcoin was still holding the higher ground. “The Altcoin market is reacting as if Bitcoin has broken down from its Range. But it hasn’t,” he argued on Wednesday, with all the assurance of a man who’s just solved a particularly tricky crossword. 🧩✨

“In fact, it’s retesting the Lower High and Range Low as support. The retest is in progress.”

Earlier, CryptoMoon reported on capital rotation into alts as BTC price momentum flipped to consolidation. Bit of a to-do, what? 🌀💸

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2025-07-24 12:00