SEI Outruns Bitcoin's Bad Day as Short Sellers Get Squeezed Toward $0.06 🐋

Sei [SEI] has climbed roughly 30% in June after touching an all-time low of $0.044 earlier this month, trading at $0.058 as of writing. The token gained 12% over the past two days while Bitcoin [BTC] briefly slipped below $60,000 and was barely holding above the key psychological level at the time of reporting. The divergence followed Bitcoin's bounce from sub-$60,000 levels in early June, which analysts cited as the initial trigger for the broader relief rally.

According to market data, SEI's recent price action was amplified by a short squeeze targeting upside liquidity built by leveraged bears. For the past 10 days, short sellers had opened positions clustered near $0.06, and that liquidity pool acted as a price magnet during the move. A second cluster of short positions has been building around $0.07 since late May, which could attract another squeeze if price pushes higher.

On the fundamentals side, developers have cited the upcoming "Giga" upgrade as a catalyst for renewed attention to the network. The upgrade is described as aimed at making the chain faster and adding privacy-focused features. SEI also sits within the broader altcoin market that has shown seller exhaustion after printing new lows in recent weeks.

The path forward depends heavily on upcoming U.S. inflation data, which could either confirm or ease last week's Federal Reserve rate hike concerns. A hotter-than-expected inflation print could push investors back into a risk-off mode and stall SEI at the immediate overhead hurdle near $0.06. A softer reading may renew risk appetite and allow bulls to clear that level, with $0.07 representing a potential next bullish target and approximately 12% additional upside from current levels.