Bitcoin Short Positions At 2-Month High, Will Bears Beat the Bulls?
As per the on-chain data, the Bitcoin shorts on the crypto exchange BitMEX have surged to their two-month highs. However, as per on-chain data provider Santiment, this increases the chances of a bounceback. It reported: advertisement Bitcoin’s funding rate on @BitMEX is seeing its most negative ratio since the heavy bets against prices in mid-March, just before prices soared. Generally, price rise probabilities increase when the crowd overwhelmingly assumes prices will be dropping. Courtesy: Santiment As of press time, Bitcoin is trading at $27,668 with a market cap of $535 billion. As of now, $27,000 remains a major support on the downside. If it fails to hold, the next immediate support level for Bitcoin would be $24,000. If $27,000 fails to hold for #Bitcoin Trending Stories MATIC Price Analysis : Polygon Price Losing Monthly Support Hints an Upcoming fall of 15%; Keep Holding? 24/7 Cryptocurrency News Marke...