Celsius (CEL) price gains 600%+, but analysts cite exchange error and a massive short squeeze

Celsius (CEL) price gains 600%+, but analysts cite exchange error and a massive short squeeze


On June 14, discussions of Celsius continued to populate media headlines and June 14’s news involved the platform’s CEL token accruing massive gains after what appears to have been either an exchange glitch or a short-squeeze. CEL price spiked from $0.18  to $1.55 in one abrupt candle before sinking back to $0.60 within the same one-hour candle.

CEL/USDT 1-day chart. Source: TradingView

Currently, analysts are on the fence about the reason for the explosive price breakout. Some cite Celsius repaying a portion of its debts as a reason, while others pinpoint a possible error on the FTX exchange as the reason for what appears to be a short squeeze.

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Are debt repayments boosting investor confidence?

Celsius has been scrambling to cover a number of its debts and it is

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