Bitcoin’s Ongoing Surge Could Gain Steam as Shorts Are Underwater

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Bitcoin has seen immense volatility over recent days. The coin currently trades for $13,800, above the $13,200 lows on Monday but below the daily highs at $14,100 and the weekend highs at that same level. Bitcoin is currently up around 1.5% in the past 24 hours. Some analysts think that the coin is primed to move higher due to the futures market. One analyst shared data showing that the cryptocurrency’s futures markets are clearly bearish at the moment. The issue is, according to the analyst, many of these shorts are bearish while the funding rate is also negative. This could result in a short squeeze that pushes Bitcoin higher. Bitcoin Could Move Even Higher, Futures Data Shows Bitcoin has seen immense volatility over the past few days ahead of and during the presidential election in the U.S. The leading cryptocurrency currently trades for $13,800, above the $13,200 lows on Monday…

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