Analysis: BTC breaks above $78,000, high likelihood of a short squeeze in the short term

Foresight News reports, according to The Block, that Bitcoin's price has surpassed $78,000, and the Fear & Greed Index has exited the extreme fear zone. K33 Research states that Bitcoin may maintain its upward momentum, and the likelihood of more short squeezes in the short term is very high.

K33’s report points out that over the past week, interest rates have fallen further, while prices have climbed to a three-month high. Open interest continues to rise and lows are steadily increasing. Leverage is gradually increasing, and the extremely low interest rates indicate that short positions are steadily growing, which not only raises the probability of future short squeezes but also increases their potential scale.