Everybody was expecting to see short squeeze after 52k but it seems what happened wasn't really a short squeeze.
As you can see $1.6 billion worth of BTC was taken in just a few minutes by a big buyer. It means they smash bought market orders. It could have been some major institutional buyer.
BTC price moved from 52k to 55k within 5 minutes. It seems from that this was a single large buyer. There was not a big short squeeze as many people were expecting. Shorts liquidation at that time was only $17 million. Shorts could be also stopped out but that's not a very big liquidation more than usual.
Maybe we will know more about this in the next days.
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