$14 billion Bitcoin shorts pile in – Will this be BTC’s secret weapon?

Key Points

1. Bitcoin's price reached $122,190 but ended the day down by 2.8%, indicating a lack of breakout volume and a possible hype pump.

2. A $14 billion short cluster around $125k could trigger a massive short squeeze if Bitcoin's price reaches that level.

3. 70%+ short skew shows bears are betting on a pullback, but bulls might be setting up for a short squeeze.

4. Bitcoin has been stuck below the $122k all-time high for over 30 days, with bulls failing to break the resistance.

5. Profit-taking has been muted with realized gains at $1.27 billion, suggesting a hold bias among market participants.