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Will Bitcoin’s potential short squeeze help BTC escape $20K trap

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Bitcoin, the largest cryptocurrency showcased some vital signs of life post a consolidation $20k phase. Although, the effort wasn’t enough as liquidations surrounding the crypto market intensified.

On-chain data shows Bitcoin funding rates have sunk into deep negative values. This could pave a potential short squeeze, thus, affecting BTC’s price.Bitcoin funding rates continued to showcase a grim scenario as the metric slipped into a deep negative value.

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