Bitcoin IG Client Sentiment: Our data shows traders are now at their least net-long Bitcoin since Jan 02 when Bitcoin traded near 32,175.37.
Number of traders net-short has increased by 16.20% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
Bitcoin: Retail trader data shows 65.07% of traders are net-long with the ratio of traders long to short at 1.86 to 1. Our data shows traders are now at their least net-long Bitcoin since Jan 02 when Bitcoin traded near 32,175.37. The number of traders net-long is 1.48% lower than yesterday and 8.33% lower from last week, while the number of traders net-short is 7.73% higher than yesterday and 16.20% higher 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.
Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current Bitcoin price trend may soon reverse higher despite the fact traders remain net-long.
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