After a recent period of consolidation, Bitcoin has begun to slowly rise again, briefly hitting its previous high of $106,000 earlier today. Long and short bets have been accumulating, and traders are keeping a careful eye on this zone's extremes. The $100K to $110,000 price range has turned into a battlefield for bulls and bears.
According to BorisVest, short positions are currently rising, suggesting that a sizable percentage of market players anticipate a decline. He did note, though, that there is a greater chance of a short squeeze—a quick reversal—when shorts dominate.
The allocation of long and short bets is generally balanced, which is in line with previous financing rate patterns.
