What Did You Discover from the Market's Brief Bitcoin Short Squeeze?

Last week, the Bitcoin market experienced a strong breakout, rising from the consolidation low of $29,479 to Sunday's high of $35,423. This Monday, Bitcoin surged even higher, briefly breaking through the $40,000 level. At the time of writing (July 26), according to Coingecko data, Bitcoin price stands at $39,719, with a 7-day gain of 32.5%. In this article, we will review derivatives and on-chain market data to assess why the previous "short squeeze" laid the foundation for recent market profits.