Bernd Sischka, Chief Commercial Officer at PowerTrade, a crypto options and derivatives exchange, said to CoinDesk in a note that this swift rally wasn’t necessarily driven by a genuine shift from bearish to bullish sentiments. Instead, it appeared to be spurred by aggressive short covering and a liquidity crunch, leading to rapid and volatile price movements.
Source: https://www.coindesk.com/markets/2023/09/13/crypto-market-shows-signs-of-stability-ahead-of-us-cpi/?utm_medium=referral&utm_source=rss&utm_campaign=headlines