Bitcoin FOMO surges as rally wipes out $648M in bearish positions

$BTC market FOMO has reportedly reached its highest level since 2024 as Bitcoin approaches $87,000.
The rally has wiped out approximately $648 million in bearish positions, while overall crypto trading volume has jumped 39%, signaling a sharp increase in market participation and speculative activity.
Strong momentum and short covering remain supportive in the near term, but rapidly rising FOMO and leverage can also increase the risk of abrupt volatility.