#bitcoin #market 🚀 Is Bitcoin Preparing for a Short Squeeze? Market Analysis for Early 2026
Bitcoin is showing solid growth (+10% YTD), holding near $97,000. But the most interesting thing is not the price, but how we got here.
💎 Spot vs. Leverage: Why does it matter?
The recent rallies from $90,000 to $97,000 are radically different from previous jumps. Checkonchain data shows that the growth is now supported by real spot purchases, not leverage.
• Spot: People are buying the real asset, which creates a foundation.
• Futures: Open Interest remains stable (around 678,000
$BTC ). This means that the market is not overheated by speculation.
⚡️ Bear Trap: Short Squeeze Risk
An interesting anomaly right now is negative funding rates.
• This means that “shorts” (those who bet on a drop) are now paying “longs” to hold their positions.
• If the price continues to rise due to spot demand, bears will be forced to close their positions en masse (buy BTC), which could trigger an explosive price increase.
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#bitcoin vs
#NASDAQ While the Nasdaq 100 index is standing still,
$BTC has already added 10%. We are observing a gradual capital rotation: investors are starting to perceive Bitcoin as a “technological proxy” with high beta returns.
Conclusion: The current growth looks healthy. The lack of strong leverage and aggressive shorts create ideal conditions for further upward movement.