The chart of the "CFTC CME Bitcoin Leveraged Funds Net Total" shows a significant increase in short positions on Bitcoin, reflecting hedge funds' expectations of a price decline. However, it is anticipated that these large entities may be using a hedging strategy by buying Bitcoin in the spot market or through ETFs while simultaneously shorting futures contracts. When these short positions are closed, a significant price increase is expected due to the surge in demand, creating a strong bullish wave in the market.

$BTC #Binance55thProject(IO) #BnbAth #TopCoinsJune2024 #altcoins #BlackRock