Bitfinex Highlights SuperTrend Signal After Bitcoin’s Record $1.1B Short Squeeze

TL;DR

• Bitcoin’s August 19 breakout triggered a record $1.1 billion single-day short squeeze, ending a ten-week range and driving price toward $81,500.
• Bitfinex’s weekly SuperTrend remained bearish on September 1, with its line near $79,600, meaning Bitcoin still needs a weekly close above that level for broader confirmation.
• The daily SuperTrend was already bullish near $72,279, showing shorter-term strength while the weekly chart still demands confirmation of a durable trend reversal.

Bitcoin’s August 19 breakout produced the largest single-day short squeeze in its history, with more than $1.1 billion in BTC short positions liquidated as price burst through $67,000. The move ended a ten-week range between $62,000 and $66,000, then accelerated toward $81,500 before hawkish remarks from Federal Reserve Chair Kevin Warsh pushed Bitcoin back below $77,000. The extraordinary squeeze has now become a test case for whether Bitcoin’s broader trend has actually changed. Bitfinex is highlighting its SuperTrend indicator to assess whether the rally can evolve from violent momentum into a confirmed trend reversal.

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