BlockBeats news, on May 17, CryptoQuant analyst Axel Adler Jr. posted on social media, stating, 'In the current bull market cycle, traders betting on price declines are noticeably more cautious when establishing short positions compared to the 2021 market. The only significant long squeeze occurred during the pullback when Bitcoin was around the $80,000 level.
This shift in sentiment indicates that bears are becoming more risk-averse, which is often seen as a bullish signal.
