Marcus Sotiriou, an analyst at the U.K.-based digital asset broker GlobalBlock, said bitcoin faces resistance at the $21,300 level. If the largest crypto in the world rises above it, he said, it could surge to the next target of $23,500 as its short sellers get squeezed. A “short squeeze” happens when the price of a heavily shorted asset starts increasing, and short-sellers are forced to purchase more of the asset to cover their positions.
