BTC Bulls Gain Confidence as Short Squeeze Looms, Chinese Memecoins Take a Hit

Bitcoin Climbs Above $121K as Bullish Momentum Returns

Bitcoin rebounded to over $121,000 after dipping below $120,000 overnight, sparking renewed optimism across crypto markets. Privacy coins such as ZEC and DASH also posted strong gains, highlighting broad market momentum.

Traders on decentralized exchanges leaned bullish, favoring out-of-the-money BTC and ETH call options. Analysts largely maintained a constructive outlook.

Timothy Misir, head of research at BRN, said, “The market is coiling at elevated levels—calm, liquid, and quietly bullish. Institutional flows remain the backbone of this phase, with ETFs bridging traditional and digital finance. Despite short-term fluctuations, macro liquidity, corporate adoption, and structural inflows all support continued upside.”