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 | BULLISH | 65.07% | 34.93% | -1.48% Daily -8.33% Weekly | 7.73% Daily 16.20% Weekly | 1.55% Daily -1.03% Weekly |
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.