Market Anticipates A Correction?

When looking at the long/short ratio of open orders, it appears that the market is anticipating a correction or at least a pullback.

Compared to the previous days, the percentage of longs trades dipped below the 50% threshold for most major coins.

Regarding Bitcoin, we have 40% open long orders and almost 60% open short orders.

When looking at Solana, we get a similar picture: 43% long orders and 56% short orders.

The long/short ratio typically provides a thorough sentiment of the short-term market moves. However, it can also act as an accelerator if the market moves in the opposite direction.

$BTC $SOL