BTC This bounce could turn into a trap. Price is currently reacting from a key support level, but the move higher does not look very convincing yet. While shorts are getting liquidated, open interest is still building up, suggesting that new positions are entering the market as existing shorts are being forced out. At the same time, spot CVD has decreased significantly, showing that spot is still selling aggressively. That said, if this bounce fails, the newly opened leveraged positions could quickly come under pressure, potentially turning this into a long squeeze.(Max Trades)