Bitcoin price seesaws beneath $60K as anticipation builds for fresh BTC ‘short squeeze’

Bitcoin price seesaws beneath $60K as anticipation builds for fresh BTC ‘short squeeze’


Bitcoin (BTC) chopped and changed on Nov. 18 but held a critical support level to preserve the chance of new all-time highs.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView$90,000 remains on the table

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it ranged between $59,000 and $60,000 Thursday, seeing $1,000 swings in minutes.

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With the pair’s overall range becoming ever narrower, talk turned to a potential “short squeeze” entering to push its spot price to new, higher levels.

“Based on the Futures Market structure, the funding rate and OI momentum trends are forming a perfect setting for a ‘Short-Squeeze’ scenario,” one contributor to on-chain analytics firm CryptoQuant argued Wednesday.

“Then the question is, what price range would act as a support level?”

A similar event occurred at the

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