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Stock Market Net Shorts Reaching Decade Highs Could Fuel a Bitcoin Breakout

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After a record-breaking recovery rally, traders aren’t convinced any of the recent gains in the S&P 500 are sustainable and have amassed the largest net short futures position over the past decade. Due to the ongoing correlation between Bitcoin and the stock market, a massive short squeeze in the S&P 500 index could help Bitcoin finally break out from resistance at $10,000.
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