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Crypto

Bitcoin Surges Past $81K, but Pulls Back to $79K Amid Historic Short Squeeze

Guavy AI Editorial Team
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BTC
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Bitcoin's recent rally has captured global attention after delivering its strongest weekly performance since the November 2024 U.S. presidential election rally, climbing from around $63,000 to above the $81,000 level before experiencing a pullback toward $79,000.

The sharp recovery was driven by rising trading activity, institutional inflows, and a historic short squeeze that forced bearish traders to close their positions.

Around $1.37 billion worth of Bitcoin shorts were liquidated on August 19, surpassing the previous record of $757 million from July 2021.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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