🚀Bitcoin contract positions hit a record high, and the long-short ratio reveals market sentiment!
According to the latest data from Coinglass, the current open interest has reached 39.916 billion US dollars, setting a record high (ATH), and the long-short ratio has also shown significant differentiation. Below, let’s quickly analyze the current market trends:
1. The exchange’s BTC contract holdings surged:
- As of October 18, 2024, Bitcoin’s holdings reached a new high, exceeding $399 trillion, an increase of several times compared to the beginning of the year.
- Contract positions on major exchanges such as Binance, CME, OKX, Bybit, and Bitget have increased significantly in recent months, showing the market's strong interest in Bitcoin.
- This increase may reflect investors' expectations for rising Bitcoin prices and confidence in the long-term potential of the cryptocurrency market.
2. BTC long-short ratio market sentiment:
- The BTC long-short ratio chart shows that although the market has experienced some volatility in the short term, long investors still dominate.
- As of October 18, 2024, the long-short ratio of Bitcoin within 24 hours was 1.0542, indicating that market sentiment is relatively optimistic and investors are positive about the current price trend.
- Positive data on this ratio also suggests that the market overall remains bullish on Bitcoin despite the uncertainty.
In summary, exchange Bitcoin holdings data not only reveals some key current trends in the cryptocurrency market. At the same time, the signals of Bitcoin positions and long-short ratio also provide us with trend information for analysis and judgment, and give us reason to believe that the market is preparing for the next wave of growth. However, investors still need to remain cautious and pay close attention to possible negative developments in the market.
What do you think of these market signals? Will you continue to be bullish next, or stay on the sidelines? Come and leave your opinions in the comment area!
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