Bitcoin lost steam the previous day and seems poised to re-test its support levels in the coming days. The cryptocurrency rallied on the back of favorable macroeconomic winds and high upside liquidity from overleveraged short traders.
As of this writing, Bitcoin trades at $20,800 with a 3% loss in the last 24 hours. BTC remained positive during the previous seven days and recorded a 16% profit. The number one crypto by market capitalization is the best performer in the top 10.
The Biggest Obstacle For Bitcoin In The Short Term
NewsBTC reported that short positions were piling up as Bitcoin trended to the upside. The market took out over half a billion dollars in short positions. As the market trended upside, these positions were