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Bitcoin's Blowout Rally Exerts Pain as Record Shorts Get Burned

  • Short interest in Bitcoin reaches highest level on record
  • Largest digital asset has gained more than 240% this year
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The frenzied relationship between Bitcoin and its skeptics is reaching a boiling point.

Speculators who bought futures contracts to bet against the largest digital currency are being forced to close out positions by the parabolic rally of the past two months that has more than doubled the price. The squeeze is likely to continue with so-called short interest still lingering at an all-time high.