Bitcoin Eyes $67K After Halving as Altcoins Primed for Short Squeeze, Hedge Fund Says

Bitcoin’s price is on track to reach $67K following its halving event, according to a hedge fund. The event, which occurs every four years, reduces the issuance of new Bitcoin by half. Despite concerns of a deeper correction, the cryptocurrency market as a whole is experiencing a surge. Funding rates for certain altcoins and memecoins have turned negative, potentially leading to a short squeeze. The positive market sentiment has also extended to digital asset-focused stocks, with companies like Coinbase and MicroStrategy seeing significant gains. While some analysts warn of market weakness in the coming months, historical patterns suggest that Bitcoin’s price could experience exponential growth in the next 50-100 days. Additionally, the cooling off of funding rates for leveraged derivatives traders could create a favorable environment for altcoins and memecoins to rally.