Bitcoin remains range bound in lower timeframes trading at $54,277. The first cryptocurrency by market cap records almost no gains in the daily chart, but a massive 23.9% in the 7-day chart.
BTC moving sideways in the daily chart. Source: BTCUSD Tradingview
The general sentiment in the market has flipped bullish, as investors seem to be waiting for further appreciation in Q4, 2021, a period that usually works for the bulls.
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Investment firm QCP Capital believes BTC’s price recent returned to the mid $50,000 was due to a “short squeeze”. Triggered by a high number of liquidations in short positions, the big move to the upside has its origin on Chinese