- Bitcoin spirited itself back over $105k after a weekend spree that liquidated over $23M worth of shorts—because apparently, shorts are more fragile than a soap bubble in a thunderstorm.
- Analysts are now sharing as many differing opinions as there are fish in the sea about whether BTC will cling above $100k or go “poof”—it’s a real rollercoaster without the safety bars.
On 2 June, Bitcoin—known to its friends, and sometimes its enemies—reclaimed the fabled $105k after a nasty 7% nosedive from the lofty peaks of $110k late last week. The brief tumble was marked by whales (not the swimming kind, unfortunately) losing their minds, shorts everywhere, and lots of traders sweating bullets.
But wait! According to some fancy-yet-cryptic platform called Alphractal, the whales seem to have taken a chill pill, calming down and reducing their bearish bets. So, maybe, just maybe, the big fish are done throwing tantrums.
“Whales have stopped shorting! Bitcoin might see some relief from here and start the week on a positive note.”
A Short-Squeeze? Could Be a Surprise Party!
This sudden reversal triggered a classic case of a short-squeeze—think of it as the market’s way of saying “Gotcha!” to the folks betting against BTC. Last 24 hours, a whoppity $33 million of BTC positions were liquidated, with $23 million of shorts wiped out faster than you can say ‘margin call.’
Sunday’s unexpected party put BTC back above $105k ahead of some very important numbers from the U.S. labor market (because what’s more exciting than employment stats?).
Of course, last week’s jitters were fueled by fears of trade wars, with Trump’s Twitter finger accusing China of breaking an agreement—because nothing says trust like a good tweet war. Plus, U.S. Bitcoin ETFs saw nearly a billion dollars exit faster than a tourist at an all-you-can-eat buffet, showing institutional investors aren’t exactly dancing with joy.
Will the inflows bounce back? Will BTC stage a heroic climb above $110k or crash to below $100k like a failed soufflé? The answer remains as elusive as a unicorn in a haystack.
Crypto trader Cryp Nuevo nervously predicts a dip to $100k before rallying to $113k, buoyed by massive liquidity pools. Because where there’s liquidity, there’s often a magnet waiting to pull prices in.
Meanwhile, Daan Crypto Trades sees a potential dip to $98k—around the 200-day SMA—before the market picks itself up and dusts off. Classic rollercoaster stuff.
Analyst Justin Bennet agrees with the lay of the land, mentioning that whales’ positions have been as steady as a stone—so no big moves yet, just waiting for their cue.
The whale versus retail delta indicator shows that whales, after a brief panic, have gone all snooze mode. Only a shifty move or two could send BTC flying high—or tumbling down the rabbit hole.
In summary, the whales have calmed, shorts have been liquidated, and everyone is holding their breath before the next macro surprise. Will BTC rumble past $110k or quietly slide below $100k? Tune in next week—unless you’re busy checking other charts.
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2025-06-02 19:06