Bitcoin At Risk Of Plunge Through Support If Stocks Turn Down

The overextended stock market bubble was already close to bursting, but some recent turmoil involving skyrocketing GameStop shares and a Reddit-driven short squeeze might break the already thin ice. If this happens, and the stock market turns down in a big way while Bitcoin is on critical support, there could be another sharp plunge across the greater market. GameStop: The Short Squeeze That Rocked The Stock Market Legacy markets are in an uproar today, following the ongoing epic short squeeze in GME shares. Melvin Capital, a large hedge fund, opened a sizable short position against the aging video game retailer. Users of the WallStreetBets sub-reddit instead bought up shares, driving up prices and causing one of the largest short squeezes on record. Losses are said to have reached in the billions, while GME shares have risen from a 2021 open of under $20 to just under $350 at the time…

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