As the Bitcoin price tumbled in the past few weeks, several investors are increasingly building short positions against the premier cryptocurrency. A recent analysis predicted an impending short squeeze, as the funding rates plunged to new lows. According to the latest on-chain data, this short squeeze not only happened; it occurred at a rate not seen in years. $736M In Shorts Wiped Out Across All Exchanges In a recent Quicktake post on the CryptoQuant platform, pseudonymous on-chain analyst Darkfost revealed that the Bitcoin market recently experienced the largest short liquidation event since September 2024