Bitcoin recently made a big move - it exploded $31 million in shorts in one go!
Just when you thought the bull market was over, it quietly set up a big move on-chain: a wave of liquidations sending the smart shorts hiding on Binance to the rooftop. Be aware, this is not just a simple rebound, but the prelude to on-chain leverage explosion!
Key point one: Shorts are in chaos, who is taking advantage of the situation?
On-chain data shows that the largest scale of short liquidations on Binance since April has arrived, with $31 million blown out on May 8 alone. This is not just a needle popping the shorts, but a direct fire burning the positions!
The most exciting part is: the liquidation is not over!
The financing rate is only 0.004, indicating that:
The short sentiment is still ongoing.
The bulls dare not go all in.
What does this mean? Once sentiment reverses, the rally will shoot straight to ATH!
Key point two: What you see is 'rising', but smart money sees 'liquidation'.
This rebound is not driven by retail investors, but by real on-chain capital forcing shorts: the shorts are starting to be squeezed, and the leaders only need to apply a little pressure for the market to explode!
Behind this is a transfer of power: the game of leveraged funds is switching from 'crashing' to 'sweeping'.
Currently, Bitcoin is not rising, but accumulating energy to crush the shorts!
The next key event will be a full-blown short squeeze. Note: The leaders are already prepared, waiting for the shorts to make another mistake!
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