Crypto para Analysis Company Cryptoquant, Bitcoin’in He shared a remarkable assessment of his recent rise. The company argued that especially on the Binance Exchange, data streams indicated that a “Short Squeeze” (the liquidation of short positions rapidly rises) that could be experienced in the market.
Bitcoin gained approximately 8 %this week, exceeding $ 95,000. However, Cryptoquant said that this rise is the beginning of a long -term breakage or a classic bull trap.
According to the analysis, the stock market flow data in Binance offers important clues. Between 6-10 April, more than 15,000 BTC entrances to Binance, the price was followed by a horizontal cruise in the range of $ 85,000-87,000. This is usually associated with short -term investors to sell their BTCs to the stock market due to sales or tax payments.
However, between 19-23 April, the table reversed. While over 15,000 BTC output from Binance, the price of Bitcoin climbed over $ 93,000. This shows that investors tend to hide their assets from the stock market and hide in personal wallets and have strengthened the tendency to accumulate in the market.
According to Cryptoquant data, since April 18, BTC reserves on stock exchanges have experienced a significant decrease. This contributes to the reduction of sales pressure and the price increases are based on more solid foundations. In addition, on April 23, the Stock Exchange Ratio below 0.3 shows that the major investor impact on the market has weakened and retail investors have become more decisive.
The company said that high leverage long positions in the range of 82,000 – 88,000 dollars are liquidity and “weak hands” were cleaned from the market. It is currently stated that there are still large Short positions and there may be a short squeeeze with the overcoming of these levels.
In this environment where the market structure is simplified and the upward liquidity is weak; A possible ETF flow, the Fed’s direction of direction or weakness in developing markets, such as weakness, foresees Bitcoin to rapidly carry Bitcoin to 98,000 – $ 100,000 band.
*It is not an investment advice.
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Source: https://www.bitcoinsistemi.com/bitcoinde-short-sikismasi-uyarisi-geldi-gerceklesirse-fiyat-bu-seviyeye-gelebilir/
