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Analyst: Bears Turn Conservative in This Bull Market, Bullish Signals Strengthen
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On May 17, CryptoQuant analyst Axel Adler Jr. posted on social media, stating, "In the current bull market cycle, compared to the market in 2021, traders betting on price declines are noticeably more cautious when establishing short positions. The only significant short squeeze occurred during the pullback at around the $80,000 level for Bitcoin.
This shift in sentiment indicates that shorts are becoming more risk-averse, which is generally seen as a bullish signal."
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