Three waves of pain for bears
The short squeeze wasn't a single blast. It came in waves from February through April, each one pushing shorts out at higher prices. By early April, Bitcoin had moved out of bear mode and into neutral territory, according to Axel Adler Jr.'s trend pulse model. A full bullish signal still requires the 30-day simple moving average to cross above the 200-day simple moving average — a crossover that hasn't happened yet, but one that traders are watching closely.
" Translation: "Tre bølger af smerte for bjørnene
Short squeeze var ikke et enkelt udbrud. Det kom i bølger fra februar til april, hvor hver bølge skubbede korte positioner ud til højere priser. I begyndelsen af april var Bitcoin flyttet ud af bjørnemodus og ind i neutralt territorium, ifølge Axel Adler Jr.s trendpulsmodel. Et fuldt bullish signal kræver stadig, at det 30-dages simple glidende gennemsnit krydser over det 200-dages simple glidende gennemsnit — en krydsning der endnu ikke er sket, men som handlende følger nøje.
" Note: "bears" = "bjørnene" (crypto slang). "trend pulse model" = "trendpulsmodel". "simple moving average" = "simpelt glidende gennemsnit". Keep proper name "Axel Adler Jr.". Third paragraph: "Open interest climbs, funding stays negative
Bitcoin's open interest across all exchanges rose 6% to nearly $30 billion as of early May, its highest since January 31. That suggests money is coming back into the market, but not all of it is bullish. Funding rates remain near -0.0045, indicating short-side pressure is still active while long positions are not yet crowded. In other words, bears are still paying to keep their bets open — a dynamic that has historically preceded further squeezes when price starts moving up.
Net exchange outflows of 837 BTC occurred on May 5, following a larger outflow of 6,590 BTC the previous Monday. Those flows suggest coins are moving off exchanges, often interpreted as a signal that holders aren't planning to sell soon.
" Translation: "Åben interesse stiger, funding forbliver negativ
Bitcoins åbne interesse på tværs af alle børser steg 6% til næsten $30 mia. i begyndelsen af maj, det højeste siden 31. januar. Det tyder på, at penge vender tilbage til markedet, men ikke alle er bullish. Funding-rater forbliver omkring -0,0045, hvilket indikerer, at short-siden stadig er aktiv, mens lange positioner endnu ikke er overfyldte. Med andre ord betaler bjørnene stadig for at holde deres væddemål åbne — en dynamik der historisk set har været forud for yderligere squeezes, når prisen begynder at stige.
Netto børsudstrømninger på 837 BTC fandt sted den 5. maj, efter en større udstrømning på 6.590 BTC den foregående mandag. Disse strømme tyder på, at mønter flyttes væk fra børser, ofte tolket som et signal om, at indehavere ikke planlægger at sælge snart.
" Note: "open interest" = "åben interesse". "funding rates" = "funding-rater" (or "finansieringsrater" but common to keep "funding"). "negative" = "negativ". "bears" = "bjørnene". "net exchange outflows" = "netto børsudstrømninger". Keep BTC as is. Fourth paragraph: "Key levels: the floor and the ceiling
Bitcoin broke above a descending trendline that had capped price gains throughout April. The 100-day exponential moving average sits just below the current price, acting as a dynamic floor. The short-term holder cost basis aligns near $81,500, keeping recent buyers in profit. Above that, the $86,000 to $90,000 range represents a supply zone of prior selling activity — the next major test for any rally. If buyers can push through that zone, the path to higher levels opens up. If not, the liquidation cascade at $77,000 remains a real risk.
" Translation: "Nøgleniveauer: gulvet og loftet
Bitcoin brød igennem en faldende trendlinje, der havde begrænset prisstigninger gennem april. Det 100-dages eksponentielle glidende gennemsnit ligger lige under den aktuelle pris og fungerer som et dynamisk gulv. Korttidsholders kostpris ligger omkring $81.500, hvilket holder nylige købere i profit. Over dette repræsenterer intervallet $86.000 til $90.000 en forsyningszone med tidligere salgsaktivitet — den næste store test for ethvert opsving. Hvis k
