Bitcoin’s drop to a multi-year low is a worrying sign that might push the remaining investors away from the market. However, it is still important to understand and break down what exactly caused such a major drop in market value and if bears are to blame.
According to on-chain data shared by Santiment, “overzealous” traders who have been trying to short the mild Bitcoin recovery yesterday lost a significant amount of funds during the unexpected recovery of the digital gold.
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