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Recently, Bitcoin ( BTC ) market has seen some noteworthy changes. Data shows that the concentration of short positions in the BTC market share indicator (BTC.D) has started to decline. More notably, today, large investors (commonly known as "Whales") have begun to establish long positions, which may indicate their optimistic outlook on the recovery of BTC market share.
Another interesting phenomenon is that the current short positions momentum has reached a peak not seen in nearly two years. Looking back in history, the last time such a high short positions momentum occurred was in early December 2024, right before BTC experienced its first significant rally of the year-end.
Multiple market signals seem to suggest that Bitcoin may be on the verge of a strong performance. Does this mean that BTC is preparing for the first peak of Q3?
Although the market signals appear positive, investors still need to act cautiously, closely monitor market dynamics, and manage risks effectively. After all, the cryptocurrency market has always been highly volatile, and any predictions come with uncertainty.
Regardless, the current market environment undoubtedly adds some anticipation to the future trend of Bitcoin. Let's wait and see how BTC will interpret this potential upward trend.