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Bitcoin bullish bets are at 28-month high with price at $67K, Fernando Nikolic notes

Bitcoin bullish bets are at 28-month high with price at $67K, Fernando Nikolic notes
Bitcoin bullish bets hit 28-month high

Fernando Nikolic highlights that bullish positions on bitcoin have reached a 28-month high on the Bitfinex exchange. At the same time, bitcoin is trading at $67K, while prominent headlines suggest the cryptocurrency may have further to fall. Nikolic contrasts the optimism among Bitfinex traders with prevailing bearish sentiment in the wider media, stating that the divergence could soon be resolved sharply in one direction.

Nikolic has previously noted that critics accusing bitcoin of being a Ponzi often rely on traditional financial systems that have failed more recently than bitcoin itself, according to a recent analysis highlighting that debate. In another report, he covered how the Block CEO questioned Coinbase for allegedly lobbying against a tax exemption on small bitcoin transactions in discussions over regulation. Both incidents reflect ongoing scrutiny of industry participants and regulatory efforts.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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