The bias for shorts, likely stemming from the hedging activity, might have led to a “short squeeze,” contributing to the TIA rally. A short squeeze happens when the asset price remains resilient, contrary to expectations, forcing bears to close their positions, which are bets that an asset will drop. That, in turn, puts upward pressure on prices.
Celestia’s TIA Posts Biggest Monthly Gain This Year Even as Impending $1.13B Token Unlock Spurs Hedging
