Institutional Traders are Shorting Bitcoin Now More Than Ever Before

XO 980x479

Institutional traders are growing incredibly bearish on Bitcoin, widely betting that its price is poised to see a strong near-term pullback This sentiment is a far depart from that seen by retail traders, which are more bullish than ever on the cryptocurrency This data comes from the latest Commitment of Traders Report, which details an interesting trend in the dynamic between retail investors and so-called “smart money” From a technical and fundamental standpoint, there are a few signs that may point to imminent weakness for BTC Bitcoin and the entire cryptocurrency market have been lacking clear directionality for the past couple of weeks. Despite forming a strong uptrend over the past month, the momentum seen by BTC, ETH, and other major altcoins is stalling. This has made it increasingly unclear as to just how strong the present uptrend is. Analysts are noting that all eyes are closely watching to see…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE