Bitcoin price analysis sees new short squeeze as open interest nears $25B

Bitcoin open interest hit five-week highs while funding rates mimicked the BTC price collapse below $60,000, leading analysis to predict a new short squeeze.

Bitcoin (BTC) is due a classic “short squeeze” as open interest hits five-week highs, says new analysis.

Key points:

Bitcoin is seeing a combination of rising open interest and negative funding rates.

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