Bullish Sentiment Rises in Bitcoin Markets as Short Squeeze Threatens; Chinese Memecoins Fall

Bitcoin climbed above $121,000 after briefly dipping below $120,000 overnight, sparking renewed bullish sentiment across crypto markets. Privacy coins such as ZEC and DASH also saw notable gains, reflecting broad market momentum.

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

Timothy Misir, head of research at BRN, commented, “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 volatility, macro liquidity, corporate adoption, and structural inflows all support continued upside.”