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Bitcoin bearish bets build up, short squeeze possible if it reclaims $80,000

Bitcoin has failed to regain $79,000, but about $1.4 billion in short positions has built up near $80,000, increasing the risk of a short squeeze if the price recovers that level. Funding rates for perpetual futures have been negative for much of the past two weeks, suggesting strong bearish conviction, even as the price has risen recently. U.S. monetary policy expectations, bond yields and steady spot demand are also being watched.