Bitcoin momentum could fuel further short squeeze, says Galaxy exec

After months of stagnation and false starts, the crypto market is gaining momentum.

Renewed optimism over the likely approval of a spot US ETF fueled last week’s rally in both bitcoin (BTC) and ether (ETH), kick-starting market volatility once more.

“The markets are constantly fluctuating, influenced largely by the sentiments of investors,” Konstantin Shulga, CEO and co-founder of Finery Markets told Blockworks.

“In recent times, we have observed a squeeze in call options for options sellers, while future indicators are becoming less optimistic as the market adjusts to the sudden rise of bitcoin.”

October was a turbulent month, with bitcoin’s price witnessing a significant…

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