Bitcoin Rockets Past $94,000 Amid Massive Short Squeeze — Traders Rush to Cover as Bull Momentum Returns

Market Snapshot
In an unexpected move, Bitcoin’s price surged past $94,000 after a wave of short liquidations wiped out bearish traders across major exchanges. Data from Coinglass shows over $180 million in short positions were liquidated in less than 24 hours — signaling aggressive market repricing.

Meanwhile, open interest has climbed, and spot buying pressure is strengthening, especially from U.S. and Asian markets. The sudden move coincides with rising ETF inflows and macro optimism surrounding upcoming Federal Reserve rate-cut expectations.


SnapshotIn @ https://www.coinglass.com/LiquidationData

Technical Breakdown
On the technical front, Bitcoin broke multiple resistance levels between $91,000 and $93,000, turning them into short-term support. Analysts now eye the $95,500–$97,000 zone as the next critical test.
RSI indicators show slightly overheated momentum, but funding rates remain manageable — hinting that the rally could extend if buying volume persists.

Community Reactions
Crypto Twitter lit up with memes and astonishment as bears were caught off-guard. Prominent traders like @CryptoTony and @RektCapital noted that the move echoes historical short squeezes before major bull runs.
Sentiment across platforms such as X (formerly Twitter) and Reddit’s r/Bitcoin is overwhelmingly bullish, with hashtags like #Bitcoin #ShortSqueeze #BTC94K trending globally.

Future Outlook
If Bitcoin holds above $94,000, market strategists believe a run toward the psychological $100K barrier is plausible before year-end. Institutional accumulation and ETF inflows are likely to sustain demand, while retail traders may re-enter after months on the sidelines.
However, analysts warn that profit-taking and potential macro shocks could trigger volatility in the near term.