Bitcoin Poised for Major Short Squeeze, Analysts Predict Skyrocketing Prices

Analysts foresee an imminent short squeeze in Bitcoin, potentially catapulting its price to new highs amid mounting pressure on short-sellers. The tug-of-war between bulls and bears intensifies as Bitcoin flirts with the $70,000 mark, fueling speculation of a surge to $80,000.

As Bitcoin price oscillates around $70,000, experts highlight the mounting pressure on short-sellers amidst dwindling downtrends and rapid uptrends. Analysts note a record-high margin between institutional long positions and hedge fund shorts, indicating a prime setup for a short squeeze.

According to trading resource The Kobeissi Letter, Bitcoin recent price movements suggest a classic short squeeze scenario, with institutional longs outweighing hedge fund shorts by a significant margin. The shrinking duration of Bitcoin price dips further underscores the mounting pressure on short positions.

In the past week, Bitcoin witnessed a narrow trading range between $61,224 and $71,511, signaling diminishing volatility. However, as Bitcoin hovers near $70,000, the potential for a short squeeze looms large, with liquidation thresholds reaching billions of dollars.

Pav Hundal, lead analyst at Swyftx, emphasizes the possibility of a sharp price surge, suggesting that a short squeeze could propel Bitcoin to $80,000 and beyond, potentially eyeing the $100,000 milestone in the near future.

Meanwhile, Swan Bitcoin CEO Cory Klippsten anticipates a decisive breakthrough in the ongoing battle between long and short positions. With both factions bolstering their positions, Klippsten predicts an eventual market shakeup, as one side capitulates under mounting pressure.

Notably, asset managers are adopting a hedging strategy, simultaneously holding long and short positions to mitigate downside risks. This risk management approach reflects the cautious optimism prevailing among institutional investors.

Looking ahead, increased trading activity ahead of Bitcoin halving event, scheduled for April 21, could further exacerbate market volatility. While traders anticipate a favorable price response, Klippsten warns of potential short-term price fluctuations post-halving, urging investors to brace for volatility in the weeks ahead.

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