On-chain analyst Ali Martinez reported that BTC short positions are heavily concentrated around the $80,000 price range, and if this level is breached, a short squeeze could cause a sharp rise to $84,000. He explained, "As May began, BTC has continued to trade sideways in a narrow range. What's noteworthy is the accumulation of large short positions near $80,000. If BTC breaks above $80,000, it could quickly surge to $84,000 due to a short squeeze. Conversely, if it fails to break the $80,000 resistance, the $70,000-$75,000 range is expected to act as support. The current market is seeing a tight tug-of-war between buyers and sellers, and a daily close outside the $75,000-$80,000 range will be a key variable determining the overall trend for this month."
