Glassnode Founders: $1 Billion in Short Liquidations Could Trigger Bitcoin Rally
According to the co-founders of Glassnode, Bitcoin's recent surge could lead to a short squeeze and trigger a larger rally. The surge in Bitcoin's price has provided liquidity for long positions and is moving to fill the liquidity gap above $42,000, potentially causing volatility. The founders also suggest that Bitcoin may be printing a classic descending wedge pattern, which could indicate a potential bullish reversal. As of writing, Bitcoin is trading at $43,436.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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