The Crypto market just witnessed a spectacular turnaround as $BTC surged strongly from the 86,000 bottom to cross the $93,000 mark in a split second
๐น This unexpected price surge triggered a massive Short liquidation wave with total losses reaching $457 million catching short sellers off guard and forcing them to buy back to cut losses pushing prices even higher
๐ธ The main driver comes from ETF returning to net buying and retail investors bottom fishing sentiment at hard support however trading volume has not truly exploded to confirm a sustainable uptrend
๐น Although green has returned market sentiment is still assessed as fragile as the fear and greed Index has not exited the caution zone and macro factors are still hanging overhead
๐ธ This could be a bull trap to lure fomo traders before the market continues to correct or the start of the year end rally
Do you assess this pump as the return of Uptrend or just a technical rebound to dump at higher prices?
This article is for reference only, this is not investment advice. Please read and consider carefully before making a decision.
