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$14 Billion Bitcoin Shorts Pile In – Will This Be BTC’s Secret Weapon?
Bitcoin’s recent price action has left many bears worried, as the cryptocurrency’s relentless upward momentum has seen shorts piling in at an unprecedented rate. A staggering $14 billion worth of shorts have amassed around the $125,000 mark, a development that could prove to be a crucial turning point in the market.
The situation is eerily reminiscent of past instances where such a massive short squeeze has triggered a buying frenzy, sending prices skyrocketing. With 70%+ of the circulating supply already in profit, any sign of resistance could lead to an explosive price action.
Source: ambcrypto.com
