All eyes on Bitcoin [BTC] as Coinbase CEO reveals…

All eyes on Bitcoin [BTC] as Coinbase CEO reveals...

However, traders did not share the same sentiment. According to Coinglass’ data, the number of short positions being taken against BTC increased over the past few weeks. At press time, the percentage of short positions taken against BTC increased from 49% to 52.16%.One reason for the increasing number of short positions could be the growing selling pressure on the miners. Over the last few months, mining difficulty has increased immensely.

Additionally, there was a risk of centralization, which could go against the decentralized nature of cryptocurrencies, potentially impacting their integrity.Subscribe to get it daily in your inbox.

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