Hardly anyone saw the real engine behind the last $BTC jump.

A report from Glassnode and Bybit clarifies the picture.

Bitcoin rose 24.6% in just five days in August.

The curious part is that active leverage fell during that time.

89% of total liquidations were from short positions.

Basically, the rally was powered by those betting against it.

Are you surprised it was only driven by liquidations?

#Bitcoin #Cryptocurrencies