BTC’s Recent Rally Looks More Like a Short Squeeze Than Real Spot Demand
The recent move in BTC from $80,000 to $82,000 was not driven by real spot buying. Coinbase Premium remained negative during the rally, suggesting a lack of genuine spot demand. This raises questions about how sustainable the current rebound really is.
On May 12, Wintermute, one of the world’s largest crypto market makers, said the current BTC rally looks more like a short squeeze than a true bullish breakout. What do you think ?