Bitcoin Whales Still Favoring Short Positions Amid Sideways Price Action
Bitcoin may be demonstrating slightly bullish momentum as the market slowly stabilizes, but investors’ sentiment has not fully flipped positive, especially among large holders. Over the past few weeks, these investors, who are often known for driving major moves, have been leaning toward a bearish state, as evidenced by their persistent positioning on the short […]
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Derivatives data shows Bitcoin whales added to their leveraged positions after BTC price topped out at $42,600. Bitcoin (BTC) might have failed to sustain the $42,000 support, and for many, this is a slightly bearish sign. Interestingly, the downward move occurred shortly after Saudi Aramco, KSA's largest oil exporter, denied claiming to start mining Bitcoin.Top traders at exchanges seized the opportunity to add leverage-long positions, a clear bullishness indicator. Furthermore, margin traders have been increasing their stablecoin borrowing, indicating that whales and professional traders....
Data shows pro traders opened new leveraged long positions even as Bitcoin price dropped to $45,000 and $5.9 billion in futures contracts were liquidated. In the past 48 hours, Bitcoin's (BTC) price has dropped by $13,360 and more than $2.6 billion worth of futures contracts have been liquidated. When including altcoins, the total sum of liquidations equaled $5.9 billion.After marking a record-high open interest at $19.5 billion on Feb. 21, the metric has stabilized at $16.5 billion. This means that half of the terminated leverage positions have been reopened.According to the top traders'....
Bitcoin has experienced a trading session with low volatility as the cryptocurrency moves in a tight range. The cryptocurrency is flirting with a critical support zone at around $19,500 which has been able to hold despite last week’s spike in selling pressure. Related Reading: Old Bitcoin Supply Moves Into Derivatives, Whales Setting Up Long Positions? At the time of writing, the price of Bitcoin (BTC) trades at $19,700 with sideways movement during the last 24 hours and the past week. As the price of Bitcoin stalls, crypto investors seem to be shifting their attention to other....
The transparency blockchain provides lets fundamental analysts see when whales are loading up on Bitcoin, but it can’t tell when technicals take a turn. However, whale behavior might still be the key to understanding price action. Right now, whales on the long-standing crypto exchange Bitfinex have amassed one of the largest collective long positions ever. […]
Ethereum has been following the general trend in the crypto market, giving back its profit obtained over the past week. The cryptocurrency was moving in tandem with Bitcoin and large cryptocurrencies, but now ETH’s price is reacting to new economic data published in the United States. Related Reading: Bitcoin Leverage Ratio Hits New ATH, Market In For A Rough Ride? At the time of writing, Ethereum trades at $1,300 with a 2% loss and sideways movement in the last week. Other cryptocurrencies in the top 10 by market capitalization record similar price action with the exception of XRP. This....