Forexrobots24

forex advisor developer

Bitcoin IG Client Sentiment: Our data shows traders are now at their most net-long Bitcoin since Mar 05 when Bitcoin traded near 9,051.27.

Bitcoin Client Positioning

Number of traders net-short has decreased by 21.84% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

Bitcoin

BEARISH

88.76%

11.24%

9.00% Daily

17.02% Weekly

-12.02% Daily

-21.84% Weekly

6.15% Daily

10.83% Weekly

Bitcoin: Retail trader data shows 88.76% of traders are net-long with the ratio of traders long to short at 7.90 to 1. Our data shows traders are now at their most net-long Bitcoin since Mar 05 when Bitcoin traded near 9,051.27. The number of traders net-long is 9.00% higher than yesterday and 17.02% higher from last week, while the number of traders net-short is 12.02% lower than yesterday and 21.84% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Bitcoin prices may continue to fall.

Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Bitcoin-bearish contrarian trading bias.