
Number of traders net-short has decreased by 12.37% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
Bitcoin | BEARISH | 91.12% | 8.88% | 5.69% Daily -0.54% Weekly | -6.86% Daily -12.37% Weekly | 4.44% Daily -1.71% Weekly |
Bitcoin: Retail trader data shows 91.12% of traders are net-long with the ratio of traders long to short at 10.26 to 1. Our data shows traders are now at their most net-long Bitcoin since Jul 27 when Bitcoin traded near 11,220.88. The number of traders net-long is 5.69% higher than yesterday and 0.54% lower from last week, while the number of traders net-short is 6.86% lower than yesterday and 12.37% 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.
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