Market Wrap: Bitcoin Pushes Higher as Short Bets Unwind
Bitcoin shorts are unwinding positions into the month’s close. Traders watching for signs of capitulation.
Increasing altcoin flows impliy investors are starting to diversify across their digital asset holdings.
Analysts see the possibility of further selling pressure despite short-term relief.
Bitcoin and other cryptos rallied as Musk boosted bullish sentiment during The B Word conference.
Ether is attempting to break above the 50-day moving average for the first time since March.
Bitcoin sentiment is improving despite profit taking into July.