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BITCOIN_
$BTC is bouncing, but the positioning tells a different story.
Short exposure has grown significantly, while longs are still buried in losses. And despite the green price, fresh selling is more than twice as strong as buying.
Here's what caught my attention: shorts are making less money even as their positions grow. Bears are getting more aggressive, but the trade is becoming crowded.
I'm still bearish on BTC. This recovery looks fragile, and I expect sellers to push for another leg down.
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