Bitcoin shorts suddenly drop 27%... to the lowest point this year

08 Apr, 2019 | Updated: 08 Apr, 2019
by Jelmer van der Dussen
Bitcoin
Bitcoin shorts suddenly drop 27%... to the lowest point this year

The Bitcoin shorts on Bitfinex have just seen a sudden drop of 27%, leading to think that more bears are becoming bullish with BTC holding above $5000.

Earlier today, shorts saw a rise to $23000 after the latest pump by Bitcoin to $5250, but a few hours later the shorts dropped all the way back to $16800, the lowest point this year.  



With such a sudden drop in shorts, the community is guessing what this means for the price of Bitcoin in the short-term.

One thing we can say for certain is that right after the BTC shorts dropped 27%, the price of Bitcoin did not move at all. Over the last 6 hours, Bitcoin has been sitting around $5250.

Even Bitcoin trader Tone Vays, who said after the Bitcoin pump to $5000 that he sold some BTC and even went short, reacted on Twitter that he closed his short, although it’s hard to say whether he was serious or joking.

Read more: Vays shorts Bitcoin after pump, wants to see altcoins die first

Stay tuned on Chepicap as this story unfolds.

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Read more about: Bitcoin (BTC)

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