58% of traders on Binance are shorting Bitcoin

Happycoin.club - According to data provided by crypto analyst Ali Martinez, 58.39% of traders on Binance are shorting Bitcoin. The latest chart of long and short positions reflects a noticeable imbalance: long positions account for only 41.61%, therefore short positions prevail. The ratio of long to short positions has decreased to 0.71. This trend is typically accompanied by 'bearish' sentiments and indicates that cryptocurrency traders expect the price of the main cryptocurrency to fall. Historically, periods of increased activity in closing short positions can also lead to significant volatility. If prices rise unexpectedly, a short squeeze may occur. Many BTC investors are ready to take profits as soon as the level of $100,000 is reached. Crypto analyst Marcus Brownlee predicts that after Bitcoin reaches the coveted $100,000, a mass sell-off will follow as investors rush to cash in their profits. This is also indicated by data from the Bitcoinity platform - at the level of $100,000, over 2400 BTC have accumulated, and sell orders are increasing towards $107,000.