We might be close to another massive short-squeeze on BTC

in bitcoin •  3 months ago


Looks to me like a lot of traders were betting on a total collapse bellow $6000. Just look at how quickly the shorts began to grow as the price started dropping under $7300:


Short positions grew from 17,500 to 36,000 in the space of 12 days. What is interesting is that despite the rally over the past 24h, the shorts have barely budged!!

This tells me that the liquidation hasn't even begun yet.

Now, here is what I found even more fascinating. As the price crashed to $5900, "traders," or a very big speculator/manipulator, began to increase their short exposure even more. Look at the rapid increase in shorts as price was hovering around $5900-$6000:


Someone made a bad bet yesterday!

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by Spectator11 from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.

Weak hands everywhere, hopefully ...

The Purge

is over .