Understanding the 64% Short Position on Bitcoin: What Does It Mean for Traders?

[cryptoalt1122]

With approximately 64% of Binance traders holding short positions on Bitcoin, it's essential to delve into the reasons behind this bearish sentiment. This topic can explore factors influencing traders' decisions, such as market trends, technical analysis, and macroeconomic indicators.

[Bobcrypto]

This is absolutely has do with traders who are trading on future and margin leverage options. As it stands, many traders might have taken short positions on bitcoin or possibly on other notable altcoins at around 95k to $98k Btc price levels.
According to some analysis that i was following on twitter, there are indication that Bitcoin strong resistance was $98k and there may be huge liquidity or shorters positions especially Btc on that level.
Some traders on the spot market options may start to take profits at $98k in my opinion.

[Charles-Tim]

How did you know that 64% of traders on perpetual future are on short position presently? Is the data available on the exchange?

According to some analysis that i was following on twitter, there are indication that Bitcoin strong resistance was $98k and there may be huge liquidity or shorters positions especially Btc on that level.

This is true but it is presently around $97000 to $97500. Recently, bitcoin was unable to get to $98000 and it is gradually falling. But we should expect bitcoin to break $100000 while some people can think there would be a resistance.

[Wiwo]

How did you know that 64% of traders on perpetual future are on short position presently? Is the data available on the exchange?

According to some analysis that i was following on twitter, there are indication that Bitcoin strong resistance was $98k and there may be huge liquidity or shorters positions especially Btc on that level.

This is true but it is presently around $97000 to $97500. Recently, bitcoin was unable to get to $98000 and it is gradually falling. But we should expect bitcoin to break $100000 while some people can think there would be a resistance.

Bitcoin is expected to do alot of corrections this coming week, so for any one that want to buy at some discount price level, waiting with avaliable cash to dive on the market when that happens is an essential sentiment at this point, this week have been filled with load of bull tendency but the $98k resistance have sent a str9ng signal of retrenchment in the bitcoin price movement.

The current decline trend will definitely send bitcoin into red position, at least for the next few days before the next market lips, so I you say most trader's are taking in short positions, they may be near accurate in their speculations.

[legend45]

This is absolutely has do with traders who are trading on future and margin leverage options. As it stands, many traders might have taken short positions on bitcoin or possibly on other notable altcoins at around 95k to $98k Btc price levels.
According to some analysis that i was following on twitter, there are indication that Bitcoin strong resistance was $98k and there may be huge liquidity or shorters positions especially Btc on that level.
Some traders on the spot market options may start to take profits at $98k in my opinion.

in doing trading right now I also take short term, and hopefully bitcoin can reach $100K soon.
Although the price of bitcoin has dropped back to $96K, because this is bitcoin's weekend habit
Hopefully next week bitcoin will return to approaching the price of $100K