Since when did math and data science not include statistical theories?
One theory is the amount of short positions are still over leveraged last I checked (with $2 billion open positions). The bears are refusing to exit their losing positions, instead are holding onto their shorts Bitcoin as it rises and finds support above the 200 Day MA
What happens theoretically when these positions get liquidated is they have to buy back into Bitcoin. This is how the $50-60K "blink of an eye" moment occurs. All theory obviously, but 35% shorts vs longs in a bull market is still over leveraged imo.
Remember when price crashed 30% in a day? The market was over leveraged long, the bulls got liquidated. Some theorized this would happen, I ignored it. I won't ignore this scenario in the opposite direction. That would be naive.
Ideally everyone exists their losing positions before liquidation, or at least at different prices. But they don't, and they never learn.