A short position of 300 $BTC around $69,929 was closed, earning approximately $265,000 in 33 hours. The bears retreated first, indicating that some of the selling pressure below $70,000 has been absorbed, and short-term there is no longer a one-sided downward move. Whether the price can regain above $70,000 next depends on whether the bulls continue to absorb the selling. $BTC

BTC-2.67%
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