Bitcoin (BTC) may encounter increased selling pressure around 106,000 USD, with short sellers positioned at 106,550 USD, indicating potential profit-taking.
The Bitcoin fear and greed index reflects ‘greed’ at 70 points, suggesting a local market peak may drive profit-taking even with over 97% of BTC supply still profitable.
Accumulation of short positions around 106,515.86 USD adds to market volatility as BTC seeks to recover from a decline below 102,000 USD.
Leave a Reply