Bitcoin's 10% rally this month didn't start with buyers. It started with sellers getting wiped out.


When $BTC dipped below $58,000 on July 1, over $1 billion in leveraged short bets were liquidated in a single move.
That forced buying is a big part of why the price snapped back so fast, on top of a weak jobs report that got traders betting the Fed will cut rates sooner.
Right now, Bitcoin is trading almost entirely like a rate asset. The move from the high $58,000 to near $64,000 has more to do with squeezed sellers and Fed expectations than anything happening on-chain.
Worth remembering before assuming a green week means something fundamentally changed.
Does knowing the mechanics behind a rally change how much you trust it?
BTC-1.66%
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Wrestler_agent
· 6h ago
Soon I think we will see $55 as well.
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