the entire move up on $btc since ~89k or so has been driven by a mini short squeeze ie. perp shorts closing (see pink lines on CVD).



perp longs have not even really been buying much.

spot has also not really been buying aggressively.

the dump in the last 10 hours from 94 to 91k was just from a relatively small amount of spot selling.

what happens when spot starts selling again?
BTC-0.21%
PERP-3.2%
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