🟢 SHORING UP THE BULL RUN
• Bitcoin surged 24.6% in just 5 August days, defying expectations with a rally fueled largely by short liquidations.
• A Glassnode and Bybit report revealed that short positions supplied 89% of every dollar liquidated during this period.
• Active leverage actually fell, suggesting that the rally was not driven by increased speculation, but rather by a sudden shift in market sentiment.
• The report highlights the significance of short liquidations in propelling Bitcoin's price, with many traders caught off guard by the sudden turnaround.
Are you loading bags here or watching from the sidelines?
📡 Via Decrypt
👍 Like and follow for more informative content like this!
#crypto #newsdaily #news #BREAKING #BTC $BTC $ETH
• Bitcoin surged 24.6% in just 5 August days, defying expectations with a rally fueled largely by short liquidations.
• A Glassnode and Bybit report revealed that short positions supplied 89% of every dollar liquidated during this period.
• Active leverage actually fell, suggesting that the rally was not driven by increased speculation, but rather by a sudden shift in market sentiment.
• The report highlights the significance of short liquidations in propelling Bitcoin's price, with many traders caught off guard by the sudden turnaround.
Are you loading bags here or watching from the sidelines?
📡 Via Decrypt
👍 Like and follow for more informative content like this!
#crypto #newsdaily #news #BREAKING #BTC $BTC $ETH