BlockBeats News, May 17th, CryptoQuant analyst Axel Adler Jr. posted on social media, stating, "In the current bull market cycle, compared to the 2021 price action, traders betting on price declines have been notably more cautious when establishing short positions. The only significant long squeeze occurred during a pullback in Bitcoin around the $80,000 level."
This shift in sentiment indicates that shorts have become more risk-averse, which is typically seen as a bullish signal."
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.