Bitcoin price jumps above $28K after 1.5K BTC shorts 'blown out'

Bitcoin eats ask liquidity as short squeeze sends BTC price to pre-Binance regulatory debacle levels.

Highlights

Bitcoin (BTC) returned to $28,000 on March 29 as a classic short squeeze took the market to five-day highs.
The abrupt uptick came courtesy of exchanges, where a band of shorts was “blown out” to remove resistance and allow higher levels to return.
Total BTC short liquidations for March 29 stood at nearly $20 million at the time of writing.
The price action effectively erased any trace of losses engendered by the news that the largest crypto exchange, Binance, was being targeted by U.S.
regulators.
In order for short-term upside to continue, bulls would need to muster some serious buying power.

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