Bitcoin ‘cascading long squeeze’ to blame for slump to $60K
An increasing number of traders entering new long positions was the "fuel” behind Bitcoin’s slump to $60,000, according to a Bitcoin analyst Willy Woo.
![Bitcoin ‘cascading long squeeze’ to blame for slump to $60K](https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMDYvNjhmYzZhNzAtYmQwZS00NjNlLTkxZWUtOTRlOWFjMzMyMDVhLmpwZw==.jpg?#)
An increasing number of traders entering new long positions was the "fuel” behind Bitcoin’s slump to $60,000, according to a Bitcoin analyst Willy Woo.
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