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Seeing Bitcoin rise 5% on Monday, I thought it was due to new buying volume, but after listening to analysts, they said it was mainly due to the unwinding of short positions like stock shorts. In other words, it means the price was pushed up by short covering.
This kind of movement is different from actual increased demand, so its sustainability may be weak, which is a common market interpretation. Short covering creates a short-term rally, but if the underlying buying sentiment isn't supported, it can quickly falter.
Anyway, this level of movement is a sign that the market is alive, but I think we need to watch more to see which direction it will go in the future.