The market is likely to challenge recent highs?! There is a chance, but be aware that if it fails, there may be a risk of a pullback!⚠️
$BTC Bullish positions are becoming more concentrated, whales are leaning towards shorting, and bearish momentum continues to decline. The next focus should be on whether the concentration of bullish positions can continue to rise as BTC price increases (because it has already reached a recent high level), otherwise, there will be a divergence signal 🚨...
By analyzing the market trends and tokens with significant price increases, we look for strong cryptocurrencies. Comparing data with $ANIME and $GMX , ANIME shows an upward trend in bullish position concentration, with whales leaning towards the long side, while GMX shows a continuous decline in bullish position concentration, with whales leaning towards shorting. Therefore, it can be concluded that ANIME performs better than GMX in terms of data.
In terms of funding rates, we also find that both ANIME and GMX have shown relatively high negative funding rates, indicating that whales intend to raise ANIME to liquidate ANIME short positions, while whales are taking the opposite action with GMX.🤨 Therefore, these two cryptocurrencies are also good options for long/short trading... keep an eye on them!
Data source: blave.org
