2024 Charts, page-79

@seagull is quite correct in that we are not privy to the workings of the shorter strategies, however there is some misconception on these boards that assume the shorter will hit the offer to cover & thereby cause a short squeeze when in fact they don't, they actually sit in the bid queue mopping up the weak hands hence causing the price to fall. That's why we get days with more money flow in than out but the price drops.
The shorter/s couldn't give a toss whether the price goes up or down if it's a hedge bet as they are even both ways.

The average daily volume can give an indication of how many days it would take them to cover & imo they would be struggling should a ripper announcement appear, then you may see a short squeeze of sorts, but I doubt it.
imo dyor