Bitcoin set for $3B short squeeze! How it will fuel BTC’s $100K rally
In the realm of cryptocurrency, Bitcoin (BTC) appears poised for a significant market event, with the potential of a short squeeze on the horizon, as over $3 billion in short positions have been identified below the $100k mark. This potential short squeeze is being fueled by institutional inflows, particularly into BlackRock's IBIT spot ETF. BlackRock is currently leading the competitive landscape, securing 52% of the spot Bitcoin ETF market, with holdings amounting to 604,049 BTC. This dwarfs its competitors Fidelity and Grayscale, who hold a mere 17% of the market each.