- Whale buys $ 91 million in BTC while the shorts of the retail trade accumulate and set up a potential short squeeze.
- Bitcoin hits $ 93k with a strong momentum, but RSI refers to possible exhaustion in the short term.
Bitcoin [BTC] has risen again beyond $ 90,000 and traded at $ 93,556 at the time of the press. This was partially fed by accumulation from deep -visible whales, even if retail traders double for short positions.
Divided strongly with sentiment, does the market go back and forth – a violent short squeeze or the formation of a local top?
Whale understands $ 91 million in BTC as the price hits $ 90k
Only five minutes before BTC renovated the $ 90,000 level, a Binance Hot Wallet received a transfer of 1,000 BTC, appreciated on more $ 91 million.
Source: X
The timing points to calculated accumulation by a whale, apparently gambling on his head while the market momentum was built.
Yet not all whales are aligned.
According to Lookonchain, Shortly after BTC had exceeded $ 92,000, two portfolios opened mass short positions using 6x leverage at $ 92,469.1 and $ 92,664.8, with the total position size of $ 74.5 million.
With liquidation levels set above $ 107,000, this trader expects a reversal or correction in the short term.
The contrasting movements show an increasing divergence in whale event – where some double on the rally, while others position for a sharp average reversal.
Retail bets on the rally, but a pinch can brew
While Bitcoin pushes past $ 90,000, Retail feeling has turned around opponent.
The long/short ratio has decreased steadily, in which traders are increasingly failing, even if the price rises.
Short positions include gambling on the price of an active to fall. When many short positions accumulate during a price rally, this creates conditions for a short pinch.
Source: Alfractaal
A short squeeze occurs when prices rise sharply, forcing short traders to buy back assets to cover losses. Warmtos reveal that this phenomenon is not limited to BTC, because short positions dominate retail flows over multiple assets.
Although this could stimulate the profit in the short term, a sudden revival in long interest can indicate the market depletion. Such a shift can indicate the formation of a local top, which coincided with peak euphoria among traders.
Bitcoin -Momentum applies strong, but overheating -signs are emerging
Bitcoin climbed to $ 93k and expanded his rally with back-to-back green candles and a bullish gap from $ 88,000.
At the time of the press, the RSI was floating near 68, just shy by Overbought Territorium, which suggests that Bullish Momentum is intact but possibly exhausting.
In the meantime, based on higher trend, which indicates a strong purchasing pressure that supports the move.
Source: TradingView
If BTC closes above $ 94,000 with increasing volume, the doors can open for $ 96k and beyond. However, a cooling RSI or Beerarish divergence would indicate weakness strength, making $ 91K an important support to view on every withdrawal.