Bitcoin Up 2.4% Because $2B USDT Don Flow In & Short Squeeze Happen
Bitcoin don bounce back reach about $119,171, e rise by 2.4%, weh e gain dey come from over $2 billion USDT stablecoin flow enter main derivatives exchanges plus strong spot-side bid stacking between $118,000 and $120,300. CryptoQuant talk say open interest dey rise and Coinbase Premium Index dey positive, dis show say institutional demand and leveraged long positions dey increase. Glassnode data also show $90 million short squeeze for $118,139 and 196,000 BTC wey dem collect near these levels, e mean bullish pressure dey increase. Meanwhile, $800 million USDT wey don flow comot from spot exchanges mean say e be strategic risk-off rotation no be general de-risking. As the U.S. House go soon vote on GENIUS Act, regulatory clarity fit push breakout go new all-time highs. Traders make dem dey watch stablecoin flows, derivatives metrics, bid stacking and regulatory developments for signals about the next rally.
Bullish
Di heavy inflows wey pass $2 billion enter USDT stablecoins for derivatives exchanges plus the way open interest rise, plus strong spot-side bid stacking and $90 million short squeeze, show say Bitcoin get strong bullish momentum. Spot-side accumulation of 196,000 BTC sef dey support dis view well. Even though $800 million USDT flow comot from spot exchanges fit cause short-term consolidation, na strategic repositioning dem dey do, no be to sell everything. The upcoming GENIUS Act vote for U.S. House na regulatory catalyst wey fit make the price break new all-time highs fast. Overall, all these factors mean say market get bullish outlook both short and long term.