Wu Blockchain(@WuBlockchain):CryptoQuant Analyst: Bitcoin Rally Fueled by Binance Short Squeeze, Pullback Risk Remains CryptoQuant analyst BorisD said Bitcoin’s rally this week was driven primarily by concentrated short liquidations in Binance futures rather than spot buying. Binance’s Short Squeeze indicator rose to 6.94, its highest level since November 2024. He said much of the move was fueled by forced buying as short positions were closed, warning that Bitcoin could face a pullback if spot demand fails to take over once the squeeze loses momentum.

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Wu Blockchain@WuBlockchain

2026.08.21 10:46

CryptoQuant Analyst: Bitcoin Rally Fueled by Binance Short Squeeze, Pullback Risk Remains CryptoQuant analyst BorisD said Bitcoin’s rally this week was driven primarily by concentrated short liquidations in Binance futures rather than spot buying. Binance’s Short Squeeze indicator rose to 6.94, its highest level since November 2024. He said much of the move was fueled by forced buying as short positions were closed, warning that Bitcoin could face a pullback if spot demand fails to take over once the squeeze loses momentum.