Griffin Ardern: Short squeeze is the main driver behind Bitcoin's recent surge Macro hedge fund manager Griffin Ardern @assassinaden believes that Bitcoin's over 20% rise in the past one to two weeks is largely driven by a short squeeze. Before the rally began, Bitcoin options' implied volatility had dropped below 10, and tail risk pricing was at historical lows. At the same time, the market was generally under-allocated and in a wait-and-see mode, with relatively thin liquidity. In such conditions, even a small amount of information could trigger an upward breakout, further accelerating Bitcoin's price surge. Follow Wu Blockchain for more professional interviews, podcasts, and short videos.