Odaily Planet Daily News - Coindesk analyst Oliver Knight stated that despite the trading price of Bitcoin breaking through $110,000 and approaching its historical high, traders still exhibit bearish sentiment, with the long-short ratio significantly dropping from 1.223 (bullish dominance) to 0.858 (bearish dominance). Data shows that short open contracts rose from $32 billion to $35 billion, indicating an increase in funds flowing into bearish positions, reflecting a lack of confidence in Bitcoin's continued rise. Currently, Bitcoin is still fluctuating within the $100,000 to $110,000 range. Technical indicators like RSI show bearish divergence, and traders are utilizing short-term strategies for arbitrage within this range. The increase in short positions also presents a potential bullish scenario in the market: a short squeeze. If Bitcoin breaks through its historical high, triggering forced liquidations and stop-loss levels for shorts, it could quickly elevate buying pressure, further pushing prices up. (CoinDesk)

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