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BTC

Bitcoin Short Squeeze at 117,576 — Short-Term Bullish Momentum

I noticed a BTC short liquidation event with an average trigger near 117,576 and about $294,998 of positions closed, executed by trading bots tagged @bpay_group.

I see this as a short squeeze that can produce near-term upward momentum, although the notional size is small relative to overall market depth, so the move may be limited or fleeting.

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Analysis

Short liquidations remove immediate downside pressure as shorts cover, which often translates into short-term price spikes; however, the ~$295k size versus total BTC derivatives open interest is modes...

Recommendation

I’m cautiously bullish: consider buying but size positions conservatively, use disciplined stops, and prefer scaling in on any pullbacks rather than chasing the initial move.

Disclaimer

The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.

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