It’s a sign that bullish long positions are likely getting crowded, and a slight price pullback could see over leveraged bulls capitulate, closing their longs and inadvertently exacerbating downside pressures in the market. Leverage washouts have been a common phenomenon in previous bull markets, often leading to a sudden double-digit percentage price drops.
U.S. CPI Meets Estimates, Rising 0.2% in October; Bitcoin Moves Above $89K
November 14, 2024
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