24/7 Cryptocurrency News

Bitcoin Spikes By 5%; Is Parabolic Bull Run Imminent?

Bitcoin Prices have jumped by over 5% in the last 24 hours. It is trading at an average price of $20,907, at the press time.
Published by
Bitcoin Spikes By 5%; Is Parabolic Bull Run Imminent?

The global digital asset market didn’t register much price fluctuation over the announcement of much awaited U.S CPI data. Bitcoin (BTC) recovered to trade over the $20K price level. However, a crypto analyst suggests that it can soon see a big short squeeze.

Advertisement

Is big short squeeze approaching?

Ki Young Ju, CEO of CryptoQuant in a tweet mentioned that back in 2020, traders kept punting short positions on Bitcoin. This led them to a liquidation around the $10-20K price range just before the parabolic bull run started.

He highlighted that at that time only 10% of hourly buy market orders came from short liquidations. Meanwhile, it now amounts to just 1%.

According to the Coinglass, more than 55K traders. Around $193 million worth of liquidation has been registered in the same period of time. Over $53 million worth of BTC has been liquidated.

Bitcoin Prices have jumped by over 5% in the last 24 hours. It is trading at an average price of $20,907, at the press time. However, BTC’s 24 hour trading volume has jumped by 10% to stand at $38 billion.

Meanwhile, Young Ju clarified that the parabolic bull run is not about to start. He suggested that it seems close to the bottom. However, the investors and traders have to wait until this short squeeze event happens. He added that this could happen in a few months or even years.

Advertisement

Institutional investors selling Bitcoin?

CryptoQuant released a blog on the General market sentiment of the US Spot and Future market. It highlighted that most of the institutional investors market makers and brokerage firms are using the Coinbase crypto exchange.

BTC price is trading lower on Coinbase than on other exchanges. This suggests that these US institutional investors are selling. However, the bullish sentiment is on a surge among future market investors. As per the blog, Taker’s buys volume is outperforming the Taker Sell volume.

Advertisement

Share
Ashish Kumar

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at ashish@coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

VanEck Registers Lido Staked Ethereum Trust in Delaware, LDO Up 7%

VanEck has formally registered its VanEck Lido Staked Ethereum ETF in Delaware. If approved, this…

October 3, 2025
  • 24/7 Cryptocurrency News

Fed’s Lorie Logan Urges Caution on Further Rate Cuts Citing Inflation Risks

Federal Reserve Bank of Dallas President Lorie Logan is the latest Fed official to share…

October 3, 2025
  • 24/7 Cryptocurrency News

Nasdaq-Listed Fitell Adds Pump.fun’s PUMP To Supplement Solana Treasury

Australia’s Fitell Corporation has purchased 216.8 million PUMP tokens for $1.5 million. The Nasdaq-listed company…

October 3, 2025
  • 24/7 Cryptocurrency News

FG Nexus to Tokenize Stock on Ethereum as SEC Weighs 24/7 Onchain Stock Trading

FG Nexus has announced that it will allow shareholders to convert common stock into tokenized…

October 2, 2025
  • Bitcoin News

Bitcoin Still Undervalued, JPMorgan Forecasts Rally to $165,000

JPMorgan says Bitcoin (BTC) is undervalued compared to gold and could rise to $165,000, giving…

October 2, 2025
  • 24/7 Cryptocurrency News

Breaking: CME to Launch 24/7 Crypto Futures Trading Amid Rising Institutional Demand

Derivatives exchange CME Group has announced plans to begin offering 247/7  crypto futures and options…

October 2, 2025