Bitcoin smashes six-month high as markets make a sudden move to the upside

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City AM

By Darren Parkin Well that escalated quickly. Bitcoin is trading at $24,620 this morning, an increase of 11% over 24 hours. Ethereum is up by 8%, trading for $1,685. It’s green across the board. Solana is up 10% on the day, Cardano by 6%, Chainlink is in the green by 7%, and Uniswap by 4%. Investors can thank short sellers for the rally, those who have had to exit their positions as crypto markets bucked expectations of a drawdown, leading to what analysts say is the spark for the current short squeeze. For context, the volume of Bitcoin traded is up by 37% over 24 hours. Bitcoin, in particula…

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