Bitcoin Short Squeeze Liquidates $96 Million in Bearish Positions

Bitcoin recently underwent a short squeeze, resulting in the liquidation of bearish positions valued at approximately $96 million. According to NS3.AI, despite the price rebound, several key on-chain indicators point to persistent market uncertainty. The seven-day exponential moving average of the Spent Output Profit Ratio (SOPR) indicates weak market confidence. For bullish momentum to regain strength, there is a need for capital inflows from whales and a Short-Term Holder SOPR above one.