Bitcoin returns to $42K as bets start favoring ‘short squeeze’ higher for BTC

Bitcoin (BTC) broke through $42,000 on Jan. 11 as expectations of a fresh “short squeeze” mounted.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Short-term squeeze “reasonably likely”

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it recovered from Monday’s dip to $39,600 — its first breach of the $40,000 mark since September.

While short-term bullish prognoses were conspicuously absent on the day, attention focused on the potential for…

Read More