Bitcoin Set For Short Squeeze Before Long Trap In October

A closely watched derivatives strategist expects Bitcoin’s next major move to begin with a violent short squeeze, only to flip into a punishing “long trap” as October opens—a sequence he argues rhymes more with late-2023 than with the euphoric blow-offs of March and December 2024. In a thread posted on September 12 and expanded over the weekend, analyst Nik Patel (@cointradernik) said the current positioning backdrop “is less like March and Dec ’24 crossovers and more like Dec ’23,” warning that the market is set up for a “multi-week whipsaw going into early/mid Oct. ” He added a specific liquidation map: “Give me $1. 5bn in shorts liqs on the weekly and then $2 source: https://www.newsbtc.com/bitcoin-news/bitcoin-short-squeeze-long-trap-october/