Traders Betting Against Bitcoin Just Got Burned. But There Are Still Bears.

A sharp rally in


Bitcoin


has left traders who were betting against crypto prices licking their wounds—but there remains a significant number of bearish traders out there.

Bitcoin prices have rallied some 20% in just days, surging from $17,500 less than a week ago to as high as $21,000. Sitting around $20,800 on Monday, the largest cryptocurrency has surged to its highest levels since the collapse of crypto exchange FTX in November slammed markets and sent Bitcoin to a two-year low of $15,500 at one point.