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Bitcoin price seesaws beneath $60K as anticipation builds for fresh BTC 'short squeeze'
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Bitcoin (BTC) chopped and changed on Nov. 18 but held a critical support level to preserve the chance of new all-time highs.
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it ranged between $59,000 and $60,000 Thursday, seeing $1,000 swings in minutes.
With the pair’s overall range becoming ever narrower, talk turned to a potential “short squeeze” entering to push spot price to new, higher levels.
"Based on the Futures Markt structure, the funding rate and OI momentum trends are forming a perfect setting for a 'Short-Squeeze' scenario," one contributor to on-chain analytics firm CryptoQuant argued Wednesday.
A similar event occurred at the end of September when Bitcoin suddenly surged into a week of almost unchecked
Read more on cointelegraph.comAbout this in other media
One more Bitcoin price dip? BTC may fall again before 'slow grind up,' warns analyst cointelegraph.com /3 years ago
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Bitcoin could 'consolidate until 2022' after mass wipeout sends BTC price to $41K cointelegraph.com /3 years ago
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