Aug 24, 2026 – 4.00pmIt’s been a miserable winter for crypto bulls, who have watched short sellers feast on a 53 per cent crash in bitcoin from its October record, leaving the original digital coin trading sideways for months at around $US60,000.Traders had been desperately waiting for a trigger that would force hedge funds to cover their leveraged bets against bitcoin and unleash a violent short squeeze to send the cryptocurrency higher.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Bitcoin’s record short squeeze spells the end of ‘crypto winter’
After a 50 per cent collapse, prices for the cryptocurrency suddenly rallied more than 20 per cent last week, forcing hedge funds to buy by the token.
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