Bitcoin (BTC) faces massive selling pressure on BitMEX, what's next? BTC $BTC
The previous instance in which heavy bets against the BTC price were recorded was in mid-March, and the Bitcoin price jumped 31% afterward.
A rally that results from traders covering their bearish short bets is referred to as a"short squeeze." In other words, the strong buying pressure"squeezes" the short sellers out of the market.
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