PANews April 18 news, CryptoQuant analyst Axel Adler Jr stated that last night, under the influence of US-Iran news, Bitcoin rose from $74,000 to $78,000. During this period, short positions were liquidated by approximately $526 million within 24 hours, showing typical characteristics of a short squeeze. A peak of about $357 million in short liquidations occurred at 21:00 (UTC+8).

Axel Adler Jr believes that this increase is not driven by new demand, but rather by short positions being forced to close. This is crucial, as a short squeeze can rapidly push prices higher, but it does not confirm the sustainability of spot demand.

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