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Crypto

BTC Short Trader Loses $3.28M in Eight Failed Trades

Guavy AI Editorial Team
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BTC ETH
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A gambler known as 0x004E saw their Bitcoin short fully liquidated after losing $3.28M across eight failed trades on BTC and ETH over two days, according to Lookonchain.

The losses occurred when the price of Bitcoin tested upper Bollinger resistance at $74,864.96 while the Relative Strength Index (RSI) flashed overbought at 91.44, indicating a probable retracement to the 50-EMA support at $66,273.6.

This comes as Bitcoin trades at $73,681.57 amidst lingering fears of a crypto market crash and current price prediction models that seem to ignore AI's impact on macro flows.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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