$BTC shorts didn’t want to listen.
They front-ran the breakdown of $62K, got squeezed as price bounced, and are now covering their positions as open interest continues to fall.
Every short that closes becomes another market buy, adding more upside pressure and forcing the next short out.
The positions built to profit from the breakdown are now helping drive the move against them.
A vicious circle fuelled by traders who entered before confirmation.
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Longs tried to front-run the $BTC breakout at $67K.
And now shorts are trying to front-run the breakdown at $62.5K.
Same mistake.
Every. Single. Time.