BTC Price Rally to $28K Causes the Largest Short Squeeze This Month

The largest cryptocurrency by market capitalization jumped to as high as $28,150 in a few hours after trading flat around $26,800 for most of the day, CoinDesk Indices data shows. It more recently pared some of its gains, dropped to around $27,900, but remains up 5.2% over the past 24 hours to outperform most other digital assets.