🐳Whales are returning to short positions in the short term. The Whale Position Sentiment indicator tracks leveraged positions with cumulative trades over $1M USD across various exchanges, representing this in the Open Interest, making it a highly powerful and unique indicator.
⏳In the short term, whales seem to be closing their longs and slowly returning to short positions. The key point of attention is the 7-day moving average of the Whale Position Sentiment, as historically, it has accurately marked the bottoms and all key price levels of Bitcoin. Recently, the daily chart has started to reverse. Monitoring derivative metrics is extremely important, especially for large positions, as they control the price and volume 90% of the time.
