#BTC: Shorts Are Playing Against Market Makers
The BlackRock Bitcoin ETF short interest remains at ATH despite Bitcoin pumping from the low 60s to the mid 80s. In other words, Bitcoin pumped, shorts got liquidated, and even more shorts were opened along the way, leaving the market with high short interest even at these prices. At the same time, MSTR and ASST short interest remains at ATH, even after the MSTR move from $90 to $160 and the ASST move from $12 to $30 in few months. All assets paired with Bitcoin are sitting with high short interest. Very soon, this imbalance will have to be solved.
You can be sure every big firm has its eyes on this, including BlackRock, Jane Street, Citadel and JPMorgan. They know exactly where the liquidity is, and they know exactly how bullish the high short interest is. From a market making perspective, being long Bitcoin related companies is an extremely easy trade. IBIT, MSTR and ASST short interest is a live reflection of this.
This is just one of the many reasons why I keep saying the next move is to the mid 90s, and only there, once the market balances out the high short interest, will a 20% correction come. This is also why I tell you Bitcoin will print a sideways movement between 97k and 80k, since I expect the market to correct near 97k. Bears are literally playing against market makers and liquidity providers at this point.