Bitcoin IG Client Sentiment: Our data shows traders are now at their most net-long Bitcoin since Nov 07 when Bitcoin traded near 6,477.27.
Number of traders net-short has decreased by 12.73% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
Bitcoin: Retail trader data shows 85.43% of traders are net-long with the ratio of traders long to short at 5.86 to 1. Our data shows traders are now at their most net-long Bitcoin since Nov 07 when Bitcoin traded near 6,477.27. The number of traders net-long is 2.49% lower than yesterday and 8.99% higher from last week, while the number of traders net-short is 18.08% lower than yesterday and 12.73% 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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