Monero Rides Broader Crypto Rebound Amid Short-Squeeze Frenzy

Monero's price rose by 3.6% over the last day, but it was not due to any specific event or announcement related to the cryptocurrency itself.

The broader crypto market rebounded, with a gain of around 3.4%, as Bitcoin approached $81,000 and Ethereum neared $2,500.

A short-squeeze driven rebound led the market higher, with over $370 million in crypto shorts liquidated in 24 hours.

Monero's price move was largely a result of this broader market momentum, rather than any XMR-specific news or event.