Bitcoin Shorts Are Getting Absolutely Demolished Right Now Traders just bet $25 billion that #Bitcoin would drop. They were spectacularly wrong. Open interest hit near-record levels as shorts piled in, expecting a crash. Instead, BTC ripped higher and triggered a massive short squeeze. When shorts get liquidated, they're forced to buy Bitcoin to cover their positions. That buying pressure pushes the price even higher. Which triggers more liquidations. It's a brutal feedback loop if you're on the wrong side. $25 billion in open interest means the next move in either direction is going to be violent. But right now, the bears are getting wrecked.
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