Woofun AI data shows that the current Bitcoin price appreciation stems primarily from passive buying triggered by concentrated short position liquidations in the Binance futures market, rather than organic spot market inflows.

The Binance short squeeze metric for this week stands at 6.94, surpassing the 5.38 level recorded in November 2024 and marking the highest reading since that period. Analyst BorisD warns that without sustained spot demand, this futures-driven rally faces potential correction risks once the liquidation momentum dissipates.