A hated rally

The current rally in Bitcoin has all the hallmarks of a "hated rally" with many sidelined investors who had been conditioned to short with conviction or rotate into fiat exposure in anticipation of further downside.
Source: Tradingview

The current rally in Bitcoin has all the hallmarks of a "hated rally" with many sidelined investors who had been conditioned to short with conviction or rotate into fiat exposure in anticipation of further downside. This has caused a short squeeze and subsequent strength in BTC, resulting in a recovery to pre-November price levels and pushing the RSI to multi-year highs, a potent signal of changing momentum.

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