Amid surging enthusiasm for artificial intelligence and growing concerns over a potential market bubble, short sellers have uncovered a profitable contrarian strategy. Reporting by 36Kr indicates that shorting Elon Musk’s #spacx has emerged as the most lucrative trade in this space. Ihor Dusaniwsky, head of predictive analytics at S3 Partners, noted on Tuesday that short investors have accumulated roughly $7.3 billion in profits following SpaceX's public offering in June.
Bitcoin is showing strong short-term bullish momentum following a sharp rejection from the 63,294.00 low. A massive bullish green candle has broken past the moving averages (MA(7) at 63,432.91 and MA(25) at 63,432.52), driving the price up to 63,544.00 with strong buying pressure reflected in the order book. Given this aggressive upside breakout and cross above the short-term indicators, the next favored move is a long position, though traders should manage risk tightly around immediate support levels given the high volatility of the 3m timeframe.