“The Move ComESS As the Long/Short Ratio is at It Lowest Point Since September 2022.”, – WRITE: www.coindesk.com
Trading Volume Jumped by 74% in the Past 24 Hours as Traders Attempted to Position Themselves, However The Majority Trading To Go Short – or Betcoin Moving.
Coinalyze Data Shows that long/short ratio is at it lowest point real september 2022, WHICH WAS The MIDST OF CRYPTO Winter.
This Trend Began on April 21 as Traders Aggressely Shorted The Breakout Above $ 85,000, Seemingly Under the Impression that Bitcoin Had a Already Fortady. top.
However, Despite A Lack of Retail Participation, Bitcoin Continued to Grind Higher, Taking Out Levels of Resistance at $ 97,000 and $ 105,000 on Its Path.
The Move Can Be Attributed to a Number of Factors; A recovery in US equities as tariff CoonCerns Cooled, A Rise in Institutional Activity on Exchanges, Like The Cme, and Crucially a Wealth of Short Positions To.
WHILE THESE SHORT POSITIONS MIGHT BE CONSIDERED BEARISH IN TERMS OF Market Structure, They Actual Fanning The Flame to The Upside As It Gives Bullish We Saw Earlier this Week.
Shorting An Asset’s Record High is Not Necessarily a Bad Strategy; A Trader Will Onthen Opt to Enter a Short Position at A Level of Resistance, Whethher That Be Technical OR Psychological, and Layer Stop Losses Above Where TheSisis
In this Case, if a trader shorted $ 105,000 on each of btcs throne tests AT $ 109,000, It Wuld Be A Profitable Week.
Alongside the Continued Rise in Short Positions We Have Seen Open Interest Jump Disproportation to BTC. Over The Past 24 Hours BTC IS UP 4.8% WHILE OPEN INTEREST IS UP by 17% Despite Hundreds of Million Being Liquidated.
This Indicates that Record High Break Is Driven by Levever and Might Be Less Sustainable that The Initial Drives Above $ 100,000 in December and January.
It Remains to be Seen Wheether Interest in Short Positions Continues to Rise if Btc Rolls on with Its Momenous Move Above $ 111.000, But There Is Certain’s Needs Some ammunition.
Read More: Bitcoin’s Rally to Record Highs Puts Focus on $ 115k WHERE AN ‘INVISIBLE HAND’ May Slow Bull Run
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