A crypto strategist known as Credible Crypto has suggested that Bitcoin (BTC) may be in the early stages of reversing its recent correction. The analyst, who has over 417,000 followers on social media, believes that current trader activity indicates a potential short squeeze for BTC. This occurs when traders who have borrowed an asset in the hope of selling it at a lower price are forced to buy back the assets they borrowed, triggering further rallies. Credible Crypto also shared a chart suggesting that Bitcoin could surge after briefly falling below its support at $54,600. At the time of writing, Bitcoin was trading at $55,265.
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