Bitcoin short squeeze ‘not over’ as BTC price eyes 17% weekly gains

Bitcoin short squeeze ‘not over’ as BTC price eyes 17% weekly gains


Bitcoin (BTC) stayed higher into the Sep. 10 weekly close as optimistic forecasts favored $23,000 next.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView$23,000 targets remain in place

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $21,730 on Bitstamp overnight — the most since Aug. 26.

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The pair managed to conserve its prior gains despite low-volume weekend trading conditions being apt to amplify any weakness.

Among analysts, excitement was palpable going into the new week, one which should prove pivotal for short-term crypto price action.

The Ethereum (ETH) Merge and fresh United States inflation data were the top catalysts expected to influence the market.

“Expect volatility to pick up around next week’s economic data,” on-chain monitoring resource Material Indicators wrote in part of a tweet over the weekend.

“In

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