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Bitcoin Short Squeeze Hits $311M Amid Rate-Cut Speculation and ETF Inflows

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BTC
$88,261.700.38%
Bitcoin surged to $94k on December 9 before retreating to $92.5k, sparking a $311 million short squeeze. The rally came as the spot bitcoin ETF saw $151.9 million in inflows, with bitcoin ETF approval now widely anticipated. The FOMC is expected to cut rates by 25 bps, with an 87.6% chance per the CME FedWatch Tool. U.S. banks were cleared to handle crypto transactions, and Twenty One Capital listed on the NYSE with 43,500 BTC.
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