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Bitcoin Price Prediction: Impact of MicroStrategy’s $7B Short Positions and NFP Data
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During the US session, Bitcoin fell dramatically to $69,000 following the release of stronger than expected US NFp figures.
MicroStrategy, known for holding a large amount of Bitcoin, is dealing with significant short positions valued at nearly $7 billion.
Despite a notable decline in short-seller interest, there are still over 18 active short positions against the company, as listed by Fintel’s “The Big Shorts.”
The decline in short positions occurs even as the company’s stock price has tripled over the past six months.
The Big Short.
7 Billion dollars worth of shorts have been placed on MicroStrategy.
Share price is up another 2% today already
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