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Bitcoin bulls respond with a $150M short squeeze above $53K — Can BTC go higher?

CryptocurrencyApr 26, 2021 08:00AM ET
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Bitcoin bulls respond with a $150M short squeeze above $53K — Can BTC go higher?

Roughly $150 million worth of shorts were liquidated within a span of hours as the price of Bitcoin (BTC) rose from around $47,000 to over $53,000 on April 26.

The cryptocurrency market as a whole saw a strong short squeeze, as Ether (ETH), Binance Coin (BNB), and other major cryptocurrencies also rose by around 15% in the same period.

Bitcoin futures funding rate. Source: Bybt.com
Bitcoin short liquidations. Source: Glassnode
BTC/USDT 4-hour price chart (Binance). Source: Tradingview, Johnny

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Bitcoin bulls respond with a $150M short squeeze above $53K — Can BTC go higher?
 

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