Bitcoin (BTC) is currently around 105,000 USD, with increased short selling making up about 60% of trades. There are concerns of a possible market pullback as bulls show hesitation, while a significant portion of Bitcoin’s supply sits in unrealized profits.
Resistance between 106,000 USD and 107,000 USD is marked by over 1 billion USD in short positions. The current market dynamics could lead to a significant short squeeze if BTC successfully breaks through this resistance.
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