Bitcoin long-short ratio hits multi-month high on Binance | Headlines | News | CoinMarketCap
01/15/2024 20:18
The ratio between longs and shorts for bitcoin on Binance Futures has risen to a multi-month high. This metric is considered a barometer of …
The ratio between longs and shorts for bitcoin on Binance Futures has risen to a multi-month high. This metric is considered a barometer of investor anticipation, with a high long-short ratio indicating that more investors have a positive expectation for the bitcoin price.
In the past 24 hours, the long-short ratio has increased sharply to 2.86, according to The Block's Data Dashboard — despite BTC retracing gains made since multiple spot bitcoin exchange-traded funds were approved. The present reading is relatively high, considering that if an equal number of traders were positioned long and short, the reading would be 1.
Last week, before multiple spot bitcoin ETFs were approved, the long-short ratio was at a low of 0.86. However, after approval, the ratio rose, as …