Celsius (CEL) price gains 600%+, but analysts cite exchange error and a massive short squeeze

cointelegraph.com:

On June 14, discussions of Celsius continued to populate media headlines and June 14's news involved the platform's CEL token accruing massive gains after what appears to have been either an exchange glitch or a short-squeeze. CEL price spiked from $0.18  to $1.55 in one abrupt candle before sinking back to $0.60 within the same one-hour candle.

Currently, analysts are on the fence about the reason for the explosive price breakout. Some cite Celsius repaying a portion of its debts as a reason, while others pinpoint a possible error on the FTX exchange as the reason for what appears to be a short squeeze.

Celsius has been scrambling to cover a number of its debts and it is possible that some investors view this as a sign that the platform will be able to survive the current mayhem. 

DAI arriving.Celsius finally going to start paying back the debt after buying enough time by reupping collateral to lower liq? pic.twitter.com/z6y165fzlL

Twitter analyst Hsaka said that on-chain data shows that the $28 million in Dai (DAI) that was recently deposited into a wallet controlled by Celsius and has since been sent to a separate address, which he identified as a debt repayment address.

Analysts believe that the Celsius's strategy is to lower its liquidation price in the MakerDAO vaults  where it holds funds and ultimately avoid insolvency.

While the beginning of debt repayment might have helped inspire more confidence in Celsius, several crypto traders reported issues when trying to buy and sell the token on FTX exchange.

Several replies to the tweet above confirmed user difficulties when trying to sell CEL on FTX, and Twitter user Karl Larsen said that they “could only fill my shorts at 0.87–0.95.”

The possibility that the difficulties