Bitcoin Perpetual Open Interest Suggests Short Squeeze Led To Crash

The Bitcoin crash of last week was a brutal one for the market. It saw the digital asset lose its footing from where it had been trending just below $30,000 to crash to the mid $17,000s before a recovery had begun. With the new week, the market had started to emerge into the green. But as bitcoin struggles to hold above $20,000, the question remains what had triggered such a crash.
A Short Squeeze
The bitcoin open interest in perps had been up over the last couple of weeks. This has…
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