CryptoQuant CEO Ki Young Ju Warns of "Short Squeeze" in Bitcoin

Ki Young Ju, CEO of analysis firm CryptoQuant, predicts a short squeeze in cryptocurrency leader bitcoin. A short squeeze is defined as a situation in which the price of an asset rises rapidly because many short sellers are forced to close their positions. Short sellers (short position holders) book trades with the expectation that the price of an asset will fall.

Ki Young Ju, CEO of South Korea-based on-chain analytics company CryptoQuant, stated that BTC may soon experience a major short squeeze. CEO Ki Young Ju noted that many investors continued to accumulate short positions between $10,000 and $20,000 in late 2020 but then disappeared from the market. The CEO also noted that 10% of the hourly buy orders on Bitcoin at that time were due to short liquidations, while today this percentage is around 1%. CryptoQuant CEO Ki Young Ju made the following statements: "I expect a big 'short squeeze'. In late 2020, many people continued to take short positions in BTC and were liquidated in the $10,000-20,000 range before the parabolic bull run began. At that time, 10% of hourly market buy orders came from short liquidations. Now it's around 1%." However, CryptoQuant CEO explained that the short squeeze he predicted does not mean that a new bull cycle will begin for BTC: "To be clear, I did not say that the parabolic bull run is about to begin. I'm just saying that it looks close to the bottom and it's time to wait until this short squeeze event happens. It could be a few months or years for the next parabolic bull run, we never know." https://twitter.com/ki_young_ju/status/1547695464367001600?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1547695464367001600%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.bitcoinsistemi.com%2Fcryptoquant-ceosu-bitcoinde-btc-short-squeeze-uyarisi-verdi%2F Source: bitcoinsystem The investment information, comments and recommendations contained herein do not constitute investment advice. Investment advisory services are provided on a personalized basis, taking into account the risk and return preferences of individuals. The content, comments and recommendations contained herein, which are in no way directive in nature, are of a general nature. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in line with your expectations.