“Traders Are Buying the Dip, Lifting The Perpetual Futures Long-Short Ratio, Kraken’s Alexia Theodorou Told Coindesk.”, – WRITE: www.coindesk.com
BTC Droped Under $ 88,000 Shortly Before Publication As Nasdaq Futures Pointed to Continued Risk Aversion on Wall Street and The Yen, A Haven Dringing Times of Turmoil, Held Stud Strong Growth-Sensitive Commodity Currencies Like the Australian Dollar.
The BTC Decline Follows A $ 1 Billion Increase In Open Futures Position on Binance Late Monday, MOST LIKELY DUE TO TRADERS Taking Shorts in Anticipation of A Defeer Price Drop.
However, Bargain Hunters Have Steped in Via Kraken, Lifting The Perpetual Long-Short Ratio to A Record-High 0.8. The ratio measures of the proportion of Buy positions Open Relativ to Active Sell Positions at Any Given Time.
“Despite Bitcoin’s Price Droping Below $ 90k, Kraken Has Seen A Surge in Traders Opening Long Positions On Its BTC Perpetual Markets,” Theodorou Said in An Interview. “The Long/Short Rata Has Climbed to a Record High of ~ 0.8, While Open Interest Has Reached a Four-Week High. This Suggests Traders Could be anticipating.
While Evidence of Dip Demand on Kraken is an encourauging Sign for the Bulls, The Long-Short Ratio Remains Below 1, Meaning There Still More Shorts Thran Longs on the Exchange.
“While this [record long-short ratio] Speaks to the underly Positive Sentiment in the Market, Liquidations Are Still at Relating Normal Levels, Meaning Thatreme Still Be Excess Leverage in The System. This Could Potentilly Leave the Market Vulnerable to Further Downside Moves, Possibly in the Shape of A Long Squeze, in the Near-Term, “Theodorou Said.
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