According to the data, while the bullish appetite of investors increased rapidly, futures transactions in Bitcoin (BTC) experienced a long accumulation.
Bitcoin futures on cryptocurrency exchange Binance, according to on-chain analysis platform Coinglass data long-short rate reached the highest level in recent months. Despite the declines following the mass approval of spot Bitcoin ETF applications, this increase in the long-short rate is a positive trend for investors. strong bullish expectation It was interpreted as.
The rate in question is when an equal number of long-short futures positions are opened. 1 point It coincides. However, according to The Block’s Data Dashboard, this data has increased rapidly in the last 24 hours. to 2.86 rose. This is what investors takes more bullish positions means.
Although bullish expectations increase, especially cryptocurrencies volatile Market makers in assets may act contrary to these positions just to get liquidity. In this case, market makers must first To liquidate large numbers of long positions It is seen as one of the possibilities that they will pull the Bitcoin price down and then bring it up.
According to CoinGecko data, in the last 24 hours 1.4% Bitcoin losing value at the time of writing from $42,181 is being traded.
Moody’s Highlighted Tokenization Opportunities and the Risks They Bring! The article titled was prepared by Tugay Erdem and published on koinbulteni.com.