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Bitcoin's Resilience Amidst Hedging

Bitcoin's Resilience Amidst Hedging

Published 2 weeks ago
Description

Bitcoin hovers around $80,000, recovering from a Friday dip, with ETF demand and low exchange reserves supporting its price. Glassnode data shows increased buying activity, but leverage is rising and short-side funding is picking up, indicating caution among traders. Luxury watch prices are surging, suggesting wealthy investors are re-engaging in riskier assets. Bitcoins performance lags behind, struggling to clear key resistance levels. The next bullish move depends on upcoming inflation data, which could prompt traders to abandon hedges and join the rally.

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