Bitcoin's Short Squeeze Reaches Critical Ceiling at $80,000

The recent surge in Bitcoin's price to nearly $80,000 was fueled by a short squeeze that liquidated around $4 billion in leveraged positions.

According to Fire Hustle, this move was driven by traders who had opened short positions after Bitcoin repeatedly failed to sustain levels above $65,000. When the price rose instead, those positions were liquidated, triggering market buy orders that added further upward pressure.

The video also cited over $500 million of Bitcoin ETF inflows on Wednesday and more than $600 million on Thursday, with Ethereum funds taking in over $200 million in the latter session.