Traders Pile on Short Positions as Bitcoin Approaches All-Time High

The action suggests bitcoin's recent range — capped at around $110,000 to the upside — could continue.

What to know:

- Despite bitcoin trading above $110,000 and nearing a new all-time high, traders are showing bearish sentiment, with the long/short ratio dropping significantly.

- Rising short open interest from $32 billion to $35 billion suggests increased capital flowing into bearish positions, reflecting a lack of confidence in sustained upside.

- For the time being, bitcoin remains range-bound between $100,000 and $110,000, with technical indicators like RSI signaling bearish divergence and traders exploiting this range through short-term strategies.

By Oliver Knight | Edited by Stephen Alpher

Source: Coindesk July 3,2025

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