Bitcoin ran from $62,900 on August 16 to $79,500 five days later before settling near $77,000, with roughly $3.1 billion in short positions wiped out along the way. Market participants have been blunt that this was a squeeze rather than organic accumulation. Standard Chartered's Geoff Kendrick, who called $100,000 by year-end earlier in the week, has since suggested that target may already be too conservative.