Short position traders took a huge loss recently, but will they go again as the price of Bitcoin has slipped?is poised for a pivotal year in 2024, potentially making history or repeating past trends. Recently, its price surge triggered the largest short squeeze since 2022, leading to a significant rise in Open Interest volume.and the market have been going head-to-head in the ring. Many spectators bet against Bitcoin emerging victorious, but the reverse saw them counting their losses.
If the price rises instead, they must buy back the shares at a higher price, incurring a loss. This is what happened with Bitcoin, driving up the volume of its Open Interest.
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