₿ Bitcoin's 24.6% Rally Was Fueled Almost Entirely by Short Squeezes A joint report by Glassnode and Bybit reveals that Bitcoin's sharpest 5-day rally in two years was driven not by fresh buying, but by forced short liquidations. Over five days in August, BTC surged 24.6% — yet active leverage actually fell during the move. Short positions accounted for 89% of every dollar liquidated, meaning the rally fed on itself: rising prices forced bearish traders to close positions, pushing prices higher still. The data suggests the move lacked strong organic demand behind it, as the engine was overwhelmingly cascading short squeezes rather than new capital entering the market. Trade on Binance
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₿ Bitcoin's 24.6% Rally Was Fueled Almost Entirely by Short Squeezes
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