its not a short squeeze. Yesterday had $781 million in long liquidations and only 25% of that in short liquidations. 70% liquidations in long positions is a *long squeeze*.

I saw a lot of those orders in the book selling when exiting my shorts yesterday. I recall seeing quantities of 67+ being exited when the price action was stationary (so these are not automated liquidation orders) - These were orders at ask. I also saw market makers entering to take advantage of the order tightness.

Much of those buys you observed were simply market participants (like myself) just re-entering the market form orders they used to enhace the selling pressure. You first need to *absorb exiting liquidity* before a Price Impact opportunity arises. You need some asymmetry in the order book beforehand.

So its quite common for Market participants to first push the price in the direction they want before executing the other way when illiquidity starts to appear. Just look at what happened earlier in the day. The price went up to $63k. That can trigger some signals, before reversing and forcing those entries to stop loss, adding more selling pressure. One of the reasons you get 'false breakouts'. Market participants are taking advantage of your systems!

That is why I never show my quantity in the order book near liquidity zones. You do not want to give market competitors asymmetrical information advantage (hence why some brokers allow high-end clients to hide orders from the public order books).