Bitcoin hits $85,000 as short squeeze forces out $648 million of bearish bets

Bitcoin reached $85,000 as open interest increased by 7.59% to $156 billion, indicating that traders are actively participating in the rally rather than exiting positions. The short squeeze forced out $648 million worth of bearish bets.

Sources

• CoinDesk — Bitcoin hits $85,000 as short squeeze forces out $648 million of bearish bets

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