The BTC markets rallied today, with a minor short squeeze quickly driving the price up by more than 5% in less than half an hour. The move, however, may have been short-lived, with both volume and price action failing to have gathered further momentum following the sudden spike.
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Minor Squeeze Drives Weak BTC Rally
When looking at the 1-minute chart, one can see that more nearly 1,500 BTC were traded in just sixty seconds at 01:00 on the 22nd of August – driving the price up by more than 4% from roughly $ 6,465 in less than one minute.