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Glassnode: Bitcoin pump attracts short positions, possibly brewing short squeeze risk
BlockBeats news, on April 25, Glassnode stated that as Bitcoin price rebounds, market leverage is rising, thereby increasing the possibility of heightened fluctuations through liquidations and stop losses. Although open contract positions have increased, the average funding rate has fallen to -0.023%, indicating a market bias towards short positions. Bitcoin traders seem to be shorting this round of upward trend, and if bullish momentum continues, it could trigger a short squeeze situation. The 7-day moving average of the long positions funding rate premium has decreased and continues to decline. This suggests a reduced demand for Bitcoin long exposure in the market, further reinforcing the current view that Perptual Futures holdings are predominantly short.