Markets· ★★★★· bullish·

Bitcoin surges from $78,000 to $81,000 in minutes on short squeeze

  • —Bitcoin rose 3.85% in minutes, from $78,000 to $81,000
  • —The move was driven by a short squeeze: traders betting on a decline were forced to buy back BTC
  • —The crypto bill's failure in the House and the Fed rate hike did not crash the market
  • —U.S. regulators said they would continue working to improve crypto rules
Why it matters: A short squeeze above $80,000 could accelerate gains as new short positions close and restore market confidence after regulatory setbacks.
#BTC
Source: Crypto Insiders
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