A Short squeeze is a condition in the crypto market where the price of an asset that has been sold by traders with short positions suddenly rises sharply. As the price of the asset increases, traders holding short positions are forced to buy back the asset to cover their positions and limit losses. This buying back adds to the demand for the asset, which in turn pushes the price higher. This phenomenon often leads to a rapid and significant upward spiral in prices, as more short traders are forced to buy back their assets, exacerbating the price increase.