Bitcoin Short Squeeze

23 Ağu 2018

In the past two days, Bitfinex has seen its shorts skyrocket from 31k to 39k short contracts. The vast majority of these shorts opened below $6400 in hopes that there would be a dump on the ProShares ETF denial. When the denial was announced yesterday, there was a brief, small dump followed by a huge bounce. This leaves most of these shorts trapped underwater leaving the perfect setup for a short squeeze. It should be noted that shorts are near an all-time high on Bitfinex. The last time shorts got this high was in April. If things play out like they did in April, bitcoin could go up as much as $1000 in one day.