$65M Short Positions Liquidated in 24 Hours. The Bitcoin Price Is Close to $25K. What’s Next?

Here are some thoughts to help you make sense of it.

Yesterday I published an article telling you that the Biden administration's coordinated attack on the crypto industry was Bullish for Bitcoin. A few hours later, the price of Bitcoin ended the day up sharply, offering us almost a 10% daily candle:

I haven't checked exactly, but it's been a long time since the price of Bitcoin offered us such a green daily candle. Always good for morale.

However, this rise in the price of Bitcoin should not be seen as having anything to do with the coordinated attack on the cryptocurrency industry by various US authorities. As I said yesterday, this attack is Bullish for Bitcoin in the long run. The full effects will not be felt for months and years.

So what happened yesterday to the price of Bitcoin? And more interestingly, what can you expect next?

Here are some thoughts to help you see things more clearly.