*AMAZON DENIES CITY A.M. REPORT IT WILL ACCEPT BITCOIN THIS YEAR
*AMAZON ALSO DENIED IT PLANS TO LAUNCH A CRYPTO COIN IN 2022
*AMAZON SAID IT WILL CONTINUE EXPLORING CRYPTOCURRENCIES
The reaction was swift but did not erase all the gains of the weekend...
After crypto's dramatic surge higher overnight, the narratives have been flowing.
From technical breakouts (BTC above its 50DMA) to fundamental (Amazon insider says "ready to roll" on accepting crypto payments), but Occam's Razor still rules. Simply put, it was a massive short liquidation.
More than $950 million of crypto shorts were liquidated on Monday, the most since May 19, according to data from Bybt.com.