After some reflection, the intention behind Bitcoin’s push to break new highs is becoming more apparent. I looked into the liquidity liquidation data and the spot vs. futures premium chart, and things are starting to make more sense.
1. Last night, right after $BTC broke a new high, aggressive short-sellers piled into high-leverage contracts. The liquidation clusters were stacked just above that level.
2. The spot premium dropped while the price surged clear evidence that futures are leading the charge.
In short, this morning’s pump looks like a calculated move to wipe out those high-leverage shorts from last night.
Still holding my bearish stance—bears will never be slaves! Unless we see 102K, I’m not closing my position. $BTC
