UNI jumped 7.18% in the last 24 hours, a move fueled by a short squeeze that wiped out 10.5% of open interest on the token. The squeeze pushed the price higher as short sellers scrambled to cover, and the data now shows a clear tilt toward the bulls.
The squeeze that moved the market
The surge wasn't a gradual climb. It came from a short squeeze, which forces traders who bet against UNI to buy back their positions at higher prices. That buying pressure fed on itself, and the result was a rapid 7.18% gain in a single day.
The effect on open interest is the tell. A 10.5% drain means those short positions were closed out in a hurry. When short sellers capitulate, the fuel for further upside often fades, but the damage to the bear case is already done.
Smart money is still long
After the move, smart money positions sit 63% long. That's a decisive majority, though not a unanimous one. The data suggests that the larger, more informed traders aren't treating this as a one-day spike. They're holding in the direction of the surge.
That kind of positioning doesn't guarantee more upside. But it does set the floor for the next few days. When smart money stays long after a short squeeze, the pullback, if it comes, tends to be shallower.
The $5 target and the risk of a fade
The bull case points to $5.00, and the data puts a 55% probability on that happening within the next seven days. That's a coin flip with a slight edge to the upside. It's not a slam dunk, but it's enough for the bulls to keep pressing.
There's a flip side. The same model sees a possible rejection back to $4.09. That's the level to watch. If the price fails to hold the recent gains, the 55% probability fades quickly, and the squeeze becomes a memory.
Over the next week, the key question is whether the momentum holds. The short squeeze is done, but the smart money positioning and the 55% odds on $5.00 give the bulls a real shot. If it stalls, the drop to $4.09 is a live scenario.
