
Bitcoin eyes $85K as massive short squeeze wipes out hundreds of millions in bearish bets
Bitcoin traded near $85,000 as a sharp short squeeze liquidated about $648 million in shorts (out of $746.6 million in 24‑hour liquidations), with open interest rising about 7.6% to $156 billion as traders replaced positions rather than winding them down. The move reflects forced buying and bullish derivatives flow, supported by higher volumes and broad crypto gains, though elevated funding costs suggest renewed volatility ahead.













