Bitcoin (BTC) rebounded above $81,000 on March 11 as US stocks’ futures sought relief from a brutal sell-off.
BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
BTC price bounces back amid calls for short squeeze
Data from Cointelegraph Markets Pro and TradingView showed daily BTC price gains approaching 4%.
New four-month lows had accompanied the previous day’s Wall Street trading session as recession fears sent risk-asset investors fleeing.
The S&P 500 and Nasdaq Composite Index finished the day down 2.7% and 4%, respectively. At the time of writing, Nasdaq 100 futures had recovered around 0.4% from a trip to their lowest levels since September 2024.
Commenting, trading resource The Kobeissi Letter suggested that markets had entered an unsustainable downtrend.
“Are we overdue for a massive short squeeze?” it queried in a thread on X, noting