The bearish sentiment around Bitcoin has dropped to the lowest levels since the 2017 bull run.
This morning, the BTCUSDSHORTS indicator on TradingView dropped 20,000 points to a new low. The indicator measures the amount of short positions, or in other words, people betting against Bitcoin. Over half of these positions were liquidated, showing that there are now a record low number of people that forecast a drop in Bitcoin prices.
Considering the nature in which these positions were liquidated, we can almost be certain that this was a result of “whale” activity. Someone with potentially millions of dollars decided that it was time to stop betting against Bitcoin. They could have even gotten insider information that led them to make such a confident decision.