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Bitcoin’s Rally Driven by Shorts | Bitcoin and Crypto News
Description
Bitcoin surged to a two-week high of $64,500 but retreated Tuesday—driven less by new investor confidence and more by a brutal squeeze on short sellers, with $500M in leveraged bets liquidated in 24 hours. Market gains since July 1 reflect an oversold bounce, not a bullish shift, as cautious traders close positions. Altcoins are splitting sharply: ETHFI and LIT soar 30%, while FET, KASPA, and WLD fall—signaling a maturing market where selective investing trumps broad enthusiasm.
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