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One week ago today, I outlined my bias for bitcoin to bounce. And it didn’t disappoint, with a 7.5% rally within 24 hours. US CPI had come in line with expectations, which was a green light for risk appetite as it bought Fed cuts back into the mix. Bitcoin was given another leg higher on reports that the SEC may approve an Ether ETF, yet one week on I am ...
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As the Bitcoin and Ethereum prices exploded toward new all-time highs, the recently piled-on shorts have suffered the brunt of the liquidations. In the last day alone, over $360 million was liquidated from the crypto market with the majority hitting short traders. Coinglass data shows that the last 24 hours have been brutal for crypto shorts, with almost ...