[Bit推] An analyst stated that although the trading price of Bitcoin has surpassed $110,000, approaching an all-time high, traders still exhibit bearish sentiment, with the Long-Short Ratio significantly declining from 1.223 (long positions in the majority) to 0.858 (short positions in the majority).
Data shows that short positions in open contracts have risen from 32 billion dollars to 35 billion dollars, indicating an increase in funds flowing into bearish positions, reflecting the market's lack of confidence in the continued rise of Bitcoin. Currently, Bitcoin is still fluctuating within the range of 100,000 to 110,000 dollars. Technical indicators like RSI show bearish divergence, and traders are using short-term strategies for arbitrage within this range.
The increase in short positions also presents a potential bullish scenario in the market: a short squeeze. If Bitcoin breaks through its historical high, it could trigger the forced liquidation points and stop losses of short positions.