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Data shows 65% of the market is longing Bitcoin, but this key reason could spoil the rally Data shows 65% of the market is longing Bitcoin, but this key reason could spoil the rally

Data shows 65% of the market is longing Bitcoin, but this key reason could spoil the rally

The overwhelming majority of traders in the crypto market are currently longing Bitcoin, data shows.

Data shows 65% of the market is longing Bitcoin, but this key reason could spoil the rally

Cover art/illustration via CryptoSlate

The overwhelming majority of traders in the crypto market are currently longing Bitcoin, data shows.

While some technical indicators point toward a rally to the $8,200 resistance area, the large amount of longs leave the market vulnerable for a potential squeeze.

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