$60 million worth of $BTC borrowed for shorting returned as market sentiment gets better
After providing 5,215 BTC, traders opened a massive amount of short orders on the market marked as non-hedging, showing that traders were directly betting against the first cryptocurrency.
In some cases, traders and investors open some short orders simultaneously with long orders to hedge their positions in case of unexpected marketSome users, including Colin Wu, suggested that a large short opening could have been a cross-platform hedge, meaning that investors opened a long position on another platform like Binance and then shorted the same asset on Bitfinex.
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