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The overall cryptocurrency landscape shows some cautious optimism. Bitcoin remains above $110,000, while Ethereum trades just under $4,000—indicating that the crypto market as a whole is still in a recovery phase. However, Caspa's recent significant liquidation event and technical signals suggest that it might be on the cusp of a rally, driven by short covering.
Conclusion: Is a Short Squeeze Imminent?
While no one can guarantee market movements, the combination of high short interest, technical oversold indicators, increasing volume, and positive funding rates paints a compelling picture for a potential short squeeze in Caspa. The critical price levels to watch are the $0.09 to $0.10 zone; breaking through this could lead to a swift rally as shorts are forced to cover.