The price of $BTC went up not because of demand, but because of the accumulation of shorts.
📊 Funding went into the red, OI grew, feet stood above resistance. Large players dispersed the price to take out short positions. Liquidations created the illusion of a breakdown, retail began to buy.
While everyone was chasing growth, the same large capital was selling - this can be seen in the flows to the stock exchange.
When the liquidations ended and there was no real demand, the price fell sharply.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
📉 How liquidity was collected today
The price of $BTC went up not because of demand, but because of the accumulation of shorts.
📊 Funding went into the red, OI grew, feet stood above resistance. Large players dispersed the price to take out short positions. Liquidations created the illusion of a breakdown, retail began to buy.
While everyone was chasing growth, the same large capital was selling - this can be seen in the flows to the stock exchange.
When the liquidations ended and there was no real demand, the price fell sharply.