Although the price of BTC -0.13%-news/">Bitcoin rose to above $23,000, many industry analysts believe that this short-term rise is an illusion, and the crypto market may head to a new low.
Crypto analyst Dylan LeClair revealed that there are still tens of thousands of BTC short open positions still in existence, especially the large number of new Bitcoin short positions opened between June 15th and July 15th, which means that despite the Bitcoin may see further gains in the short term, but it is still possible to reverse course and head lower again.
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