The amount of opened short positions is skyrocketing again. From 17k on Aug 2, it more than doubled by the end of the month and almost hit the previous record of 40k+.
Combined with the recent influx of negative news, it may very well try to reach the new high in the nearest future:
SEC Quashes More Bitcoin ETF Pitches in Another Blow to Crypto
www.bloomberg.com/ne...other-blow-to-crypto
Will Bitcoin Crash? Learn From History's Biggest Bubbles
www.bloomberg.com/ne...iggest-bubbles-chart
#Bitcoin stuck below $6,500, and @AnthonyGriz is betting on more pain to come
twitter.com/CNBCFutu.../1031960500383502342
However, the nature of such parabolic runs can be called anything, but sustainable.
It didn't end up good last time in mid April. I have no reasons to believe that this time it will be any different.
I will not be surprised at all if the market "suddenly" develops opposite to the direction mainstream media is pointing at the present moment.
Combined with the recent influx of negative news, it may very well try to reach the new high in the nearest future:
SEC Quashes More Bitcoin ETF Pitches in Another Blow to Crypto
www.bloomberg.com/ne...other-blow-to-crypto
Will Bitcoin Crash? Learn From History's Biggest Bubbles
www.bloomberg.com/ne...iggest-bubbles-chart
#Bitcoin stuck below $6,500, and @AnthonyGriz is betting on more pain to come
twitter.com/CNBCFutu.../1031960500383502342
However, the nature of such parabolic runs can be called anything, but sustainable.
It didn't end up good last time in mid April. I have no reasons to believe that this time it will be any different.
I will not be surprised at all if the market "suddenly" develops opposite to the direction mainstream media is pointing at the present moment.