Matrixport: BTC is about to break to new highs as over $1.5 billion in short positions are waiting to be liquidated at $72,000
Bitcoin is reportedly on the verge of breaking out to new highs, according to Matrixport. The firm noted that BTC futures traders are increasing their positions and predicted two days ago that Bitcoin was about to break out of a bullish triangle pattern. Combined with last night's second-largest net buying by the Bitcoin Spot ETF, BTC appears to be poised for a rally.
Over $1.5 billion in short positions are waiting to be liquidated at $72,000.
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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