Key takeaways:
- A whale linked to asset manager Fasanara Capital holds a $38 million crypto short position, but will it impact Bitcoin’s price?
- Negative futures funding rates at Binance and Bybit point to unusual demand for bearish positioning despite BTC’s recent price gains.
Bitcoin (BTC) struggled to trade above $78,000 on Friday, but the overall setup remains bullish. BTC gained 29% since the $60,100 yearly low on Feb. 6, and many analysts believe it is on the verge of a longer-term breakout. At the same time, a bearish Bitcoin whale on Hyperliquid exchange has maintained a large short position. The whale has made $159 million in profits over the past seven months. Does its positioning provide any signal that the market should pay attention to? …
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Source cointelegraph.com
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