Looks like we've got ourselves a Bitcoin short squeeze happening right now! For those unfamiliar, a short squeeze occurs when investors who have bet against an asset (in this case, BTC) are forced to buy back the asset at a higher price in order to cut their losses. This can cause a rapid price increase, as we're seeing with BTC currently.
Many believe that this is being driven by institutional investors entering the market, along with an overall increase in demand for BTC. It's definitely an exciting time for those holding BTC, but for those who have shorted the asset, it can be a bit of a rollercoaster ride.
What are your thoughts on the current short squeeze? Do you think it's sustainable or just a temporary blip? Share your thoughts in the comments below!
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