November 22
The long-short ratio of the two major exchanges for Bitcoin is 0.73, indicating a clear bearish sentiment in the Bitcoin futures open interest!
The open interest long-short ratio from the two major exchanges suggests that the market has not yet fully reached the FOMO stage, even though today the Fear and Greed Index (FGI) has already hit a high of 94!
In a bull market in the cryptocurrency space, many traders will continuously short; this is not the traders' fault: the market makers in a bull market will continuously push the price higher.
The trend does not correct, making it difficult to enter long positions; shorting has a small stop loss, but prices won't drop!
Once Bitcoin stabilizes above 100,000, I will post on Weibo about the potential risks of a significant correction for Bitcoin.
No trading advice is provided, only for reference!
