PANews reported on April 30th that, according to CryptoQuant analyst Axel Adler Jr., the Bitcoin futures market is experiencing a short squeeze, but without accompanying new leverage accumulation. Over the past two weeks, the 7-day moving average liquidation dominance indicator reversed from -22 (long liquidation dominance) on April 26th to +28.7 (short liquidation dominance) on April 30th, reaching its highest level during the observation period. However, the 7-day moving average open interest fell from over 300,000 BTC to approximately 292,000 BTC, a decrease of about 8,000 to 9,000 BTC in 10 days. The analyst points out that the simultaneous rise in short liquidation dominance and the decline in open interest suggests that the current rise is primarily driven by a short squeeze, rather than by the establishment of new bullish positions through futures trading.