BlockBeats News, May 17th, CryptoQuant analyst Axel Adler Jr. posted on social media, stating, "In the current bull market cycle, compared to the 2021 price action, traders betting on price declines have been notably more cautious when establishing short positions. The only significant long squeeze occurred during a pullback in Bitcoin around the $80,000 level."
This shift in sentiment indicates that shorts have become more risk-averse, which is typically seen as a bullish signal."
