Bitcoin data points to rally to $120K after pro BTC traders abandon their bearish bets
Traders are unwinding their bearish positions as Bitcoin holds strong, fueling optimism for a potential breakout to $120,000.
Key takeaways:
Bitcoin derivatives show reduced demand for downside protection, suggesting renewed investor confidence.
US import tariff hikes on Japan and South Korea intensified recession fears, boosting Bitcoin’s appeal as a hedge.
