Data shows that bitcoin investors in derivative exchanges are still tending to drop towards cryptocurrencies even after recovering the last price.
Bitcoin short situations still exceed length
In new mail In X, Glassnode spoke to the Analysis Group on Bitcoin’s views of the Bitcoin market from the derivative market lens today. The indicator shared by Glassnode is the “long/short bias”, which measures the net situations that are currently opened by adult traders.
When the value of this indicator is positive, this means that long situations exceed the number of short situations. Such a trend means that the majority of merchants have bullish feelings. On the other hand, the scale under the zero mark means that more BTC sites are betting on a declining result of the encrypted currency.
Now, here is the graph that the analysis company shares the trend in the long/short bias in Bitcoin during the past month:
As shown in the above graph, the long/short bias was negative for a period of time, indicating that short situations were the most dominant side in the market.
Interestingly, this has not changed despite the price recovery that BTC has witnessed since the beginning of this month. Nowadays, short positions still exceed the upscale bets by 485 BTC (at a value of about $ 56.2 million).
Historically, Bitcoin and other cryptocurrencies tend to move in the direction that contradicts the crowd’s expectations, and therefore the dominance of the Haboodi feelings in the derivative market may not be bad.
In another x stringDiscuss Glassnode about some of the bitcoin options market. First of these implicit fluctuations (IV), which measure future volatility expectations for options traders.
In particular, the release of the scale that concerns here is “AT-THE-Money” (ATM), which shows this expectation of traders only at the price of a strike near the current BTC’s immediate value.
Below is a plan that shows the trend in this indicator through the main cities of Bitcoin during the past few weeks.
From the graph, it is clear that Bitcoin ATM IV for one week has risen before the FOOC Open Market Committee (FOM), but then decreased after the Federal Reserve announced its decision. The time limits of the expiry of the authority do not show any special reaction to the event.
Another scale of market fluctuations is the IV (DVOL) index, which collects IV through strike prices and inputs.
“After FOMC, DVOL retreated, confirming that the market does not price any sharp step in the short term,” Glassnode notes.
BTC price
Bitcoin regained $ 117,900 earlier, but it seems that the currency has faced a restoration as its price has decreased to $ 116,000.
The post Bitcoin Traders Still Lean Bearish: Shorts Outweigh Longs By 485 BTC first appeared on Investorempires.com.
