Quick Take
CryptoSlate recently analyzed Bitfinex whale movement cashing out 12,000 Bitcoin. Taking a further deep dive into hedged and unhedged shorts — they are currently sitting at one-year lows. During the Luna and FTX collapse, unhedged shorts went parabolic due to the bearish sentiment at the time in the crypto ecosystem. However, unhedged shorts remain at historical lows, indicating that investors don’t want to bet against Bitcoin now due to its 70% year-to-date return.
Shorts: (Source: Datamish)
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