TokenInsight news, on the morning of July 26th, Beijing time, the price of Bitcoin quickly climbed to around US$40,000 without signal warning. Options research firm Laevitas and professional trader/market maker Julien stated that a large number of short-term call options transactions between $33,000 and $36,000 on Friday and Saturday caused a short squeeze (Gamma Squeeze), and shorts need to buy a lot of spot to resist pressure , And this caused further price increases. But at the same time, they also admitted that "the scale of the short squeeze was not expected to be so large." At present, the short squeeze that began on July 23 has affected the perpetual contract market. According to Laevitas statistics, U-standard perpetual contract holdings on Binance and Bybit exchanges have lost about 15%, while holdings on Deribit and FTX exchanges have relatively increased by 12%, showing a significant crossover.Source
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