Cryptocurrencies are back to what could be an uptrend after 10 days of an overall correction in the crypto landscape. Bitcoin (BTC) and Ethereum (ETH) are leading the recovery and currently present short squeeze potential in the derivatives market.
Interestingly, the most recent bearish sentiment that dominated the market has driven traders to open short positions against the leaders. For that reason, Bitcoin and Ethereum now have a meaningful accumulation of future liquidations at higher prices.
This occurs because short-sellers agree upon a liquidation price while opening these positions. If the underlying asset’s price rises to these marks, traders’ positions are force-closed, liquidating their collateral and re-purchasing the asset at the liquidation price.
Thus, this phenomenon is called a short squeeze, which can potentially make cryptocurrencies skyrocket.
Bitcoin (BTC) with skyrocket potential to $75,000
In this context, the Bitcoin liquidation heatmap starts t
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