Bitcoin and Ether dey face short squeeze amid record ETH shorts

Bitcoin and Ether dey face risk of short squeeze as traders dey increase leveraged short positions. Bitcoin bounce back to $116,000 after e fall to $115,000, e dey target plenty short positions around $116,500. Recent cross-market sell-off don liquidate over $500 million long positions across cryptocurrencies. Ether traders don open di biggest leveraged short position wey ever dey, e dey put pressure on ETH at $4,318. Popular analysts dey forecast say Bitcoin go dey trade between $112,000 and $120,000 through Q3, with possibility say price fit drop below $112,000. Key traders dey warn say if e no fit break above $116,800, e fit trigger further decline, wey fit be buying opportunity. Exchange order books dey show high concentration of short orders, wey fit lead to short squeeze. Macro factors dey make matter serious. The upcoming US Federal Reserve Jackson Hole symposium dey make traders reduce risk for their portfolio. Recent US producer prices rise by 0.9% month-on-month, e dey make monetary policy complicated. Trading firm QCP Capital dey predict sideways trading as investors dey wait for Fed Chair Jerome Powell remarks. Drops near $112,000 fit attract buyers, while rallies toward $120,000 fit meet selling pressure. Traders suppose dey monitor liquidation clusters and record ETH shorts for signals of sudden price reversal. Short squeeze fit boost both Bitcoin and Ether sharply. But if dem no fit clear resistance levels, e fit make pullback deepen and bearish sentiment grow.