BTC Breaks Back Above $81K, Triggering $200M in Short Liquidations Is This the Start of a Short Squeeze?

*Bitcoin has just broken above $81,000 for the first time since January. This is no small development.*

**What happened in the last 24 hours:**

BTC: +1.47%, high at $82,050

$201M in short positions liquidated

Only $57M in long positions liquidated

Ratio \~3.5x in favor of shorts

**Why it matters:**

*Funding rates were negative in early May (-2% annualized). Traders had been shorting every rally since April, with BTC stuck between $75K and $80K. The break above $80K forced all these positions to unwind.*

**What this implies:**

* Funding rates are rising to +9% annualized (bullish, not euphoric)
* BTC dominance remains high at 58.5%
* Fear & Greed at 40 (neutral zone)

No short-term top signals. Next key resistance levels: $83,400 then $85K.

the squeeze can continue as long as funding rates remain reasonable.