Bitcoin hit $85k on a short squeeze. $648 million wiped out. Now the real question is what's left to drive it from here.

𝐒𝐡𝐨𝐫𝐭 𝐥𝐢𝐪𝐮𝐢𝐝𝐚𝐭𝐢𝐨𝐧𝐬 hit $300 million in a single hour at peak. That's a mechanical move, forced buying rather than conviction buying, and it matters for how you read the chart afterward.

The 50-week moving average reclaim is getting a lot of attention from analysts as a potential bear market exit signal. Maybe. But squeeze-driven breakouts have a habit of stalling the moment the forced buyers are done. The question is whether fresh demand steps in to replace them.