Bitcoin $BTC is trading roughly flat near $74,700 after a strong week, as a record-setting global equity rally pauses ahead of next week's U.S.-Iran cease-fire deadline.
Deeply negative bitcoin perpetual funding rates show the market is heavily short, raising the risk of a sharp short squeeze that some traders say could push prices toward $125,000 in the coming months.
On-chain data suggest many active bitcoin holders are currently underwater, pointing to the possibility that any squeeze-driven rally could ultimately be sold into, with the outcome hinging on whether the U.S.-Iran cease-fire is extended.
BTC
76,591.15
+1.03%