Long Squeeze Incoming? 3 Reasons Why Bitcoin Price May Experience a Sharp Correction

The price of Bitcoin (BTC) recently climbed above $9,900 on BitMEX, marking an increase of nearly 9% in under 48 hours since May 16. Although this surge is notable, the leading cryptocurrency faces the risk of a significant long squeeze in the near future.

Several factors indicate that Bitcoin’s price might retrace after its rise from $9,100 to $9,900. These factors include the disproportionately high volume of long positions compared to shorts, rising funding rates, and the potential formation of a triple lower high.