😨 #BTC CQ: The recent price surge can primarily be attributed to a wave of liquidations in the Binance futures market rather than spot buying. This week, the short squeeze rate on Binance hit 6.94, the highest since late 2024. Such occurrences are typical of bear market dynamics. With futures supplies declining and natural spot demand failing to keep pace, the risk of a more substantial downturn in the future remains high.