Will Bitcoin’s potential short squeeze help BTC escape $20K trap
— Continue, June saw red signals, Two trends, Crypto market intensified, Remarkable pace, Funding rate reached, Liquidations, Past two weeks, Moment, Affecting btc ’ — 1 min read
On-chain data shows Bitcoin funding rates have sunk into deep negative values. This could pave a potential short squeeze, thus, affecting BTC’s price. Short squeeze occurs when mass liquidations of short traders take place due to a sudden sharp swing in the price. In the past 24 hours, 24,160 traders were liquidated, and the total liquidations came in at $79.26 million. The crypto market, on 2 July, recorded more than $250 million liquidated as losses that have increased across other cryptocurrencies. Small holders, be it small or large, continue to support the largest cryptocurrency. At press time, addresses holding <1 BTC were adding to their balance in 2022 at a remarkable pace. Since January, they (small Source