Bitcoin Rallies as Fed’s Waller Signals Rate Pause, $415M Shorts Liquidated

The liquidation figure underscores how crowded short positioning had become, making the market vulnerable to a sharp squeeze on any dovish signal. Waller's comments shift the debate from whether the Fed will hike to how long it will hold, which could keep risk assets supported if data cooperates. The open question is whether this pause narrative can outlast upcoming inflation prints, or if the rally is merely a positioning-driven pop.