Bitcoin Price Prediction: Wintermute Says A Short Squeeze And A Bull Market Are Two Different Things
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Bitcoin briefly cleared the 200-day moving average and the 0.705 Fibonacci at $81,958 on May 14 after a short squeeze, with open interest jumping $10B despite the lowest spot volumes in two years. Glassnode shows a 30-day realized cap inflow of $2.8B—under one third of the ~$10B historically tied to bull inflection—while November–February accumulators have an $86.9K cost basis and a $2.6B negative gamma cluster near $82K, leaving upside resistance unconfirmed. The update highlights technical strength but weak spot demand and limited funding, signaling mixed crypto market signals rather than a confirmed bull turn.
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- BTC cleared the 200-day MA and 0.705 Fib at $81,958 on a short squeeze, with OI jumping $10B on the lowest spot volumes in two years
- Glassnode’s 30-day realized cap inflow sits at $2.8B, less than a third of the $10B threshold seen at every prior bull market inflection
- The $86.9K cost basis of November to February accumulators is the key overhead resistance, with a $2.6B negative gamma cluster sitting at $82K
Bitcoin trades at $79,749 on May 14, pulling back after tagging the 200-day MA at $81,964, as Glassnode and Wintermute flag the same problem: the chart break is real but the spot demand needed to confirm it has not shown up yet.
BTC Daily Chart: 200-Day MA Cleared, Now Comes the Hard Part
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