$BTC rose back to 91,000, and the whole network is shouting that the bull is back. But let me pour some cold water on this. The rebound occurred on Thanksgiving, when the US market was closed, resulting in poor liquidity. In the past 24 hours, nearly 200 million dollars in short orders got liquidated, but you know what? This is not driven by real buying pressure, but rather a short squeeze caused by shorts being forced to close positions. Real institutional funds are still on the sidelines.
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$BTC rose back to 91,000, and the whole network is shouting that the bull is back. But let me pour some cold water on this. The rebound occurred on Thanksgiving, when the US market was closed, resulting in poor liquidity. In the past 24 hours, nearly 200 million dollars in short orders got liquidated, but you know what? This is not driven by real buying pressure, but rather a short squeeze caused by shorts being forced to close positions. Real institutional funds are still on the sidelines.