Hedge funds are betting on Bitcoin slump, report shows

Charlie Taylor

Despite widespread optimism in the bitcoin market in recent days, the latest report from the CME Commitment of Traders (COT) revealed that hedge funds are heavily betting against Bitcoin.
They now have more shorts to the BTC than ever before, indicating that they are betting on a strong fix, as noted by the data aggregator CryptoUnfolded:

"12/21 – CME $ BTC Commitment of Traders Report (COT) – Interest on interest: 12,603 ​​to 10.8% – Short hedge funds reach new historic high".

Meanwhile, the legendary trader Peter Brandt, who correctly predicted the 2018 reversal, is sharing new analysis on the price of the main cryptocurrency in the market. According to him, Bitcoin should find a correction at some point in its trajectory, but not as strong as previous falls. "Bitcoin has been advancing in a parabolic movement since the 2018 low," he said.
According to analysts Tone Vays and Willy Woo, a quote of $ 100,000 would be possible even in a conservative scenario for next year. At the time of writing, bitcoin is trading at $ 26,984, up 0.59% in the last hour according to Coingolive.Coinext 760x150

See also: How many billions of dollars did Ripple lose with the fall of XRP?

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