Bitcoin price may have flipped $35,000 back to support but data shows this week’s 15% move may have prompted top traders to open short positions.
After bouncing from the recent short-term low, Bitcoin (BTC) price posted a 15% gain over three days as it climbed from $32,400 to $37,200.
This was an impressive move given that BTC price had been trading in a sideways range for weeks and regardless of the reasons behind the surge, one would expect large traders and arbitrage desks to follow the trend.
Interestingly, this is not the case as many of the top traders opened short positions as BTC commenced its 15% move.