Yesterday, the concentration of bullish positions reached a new high at 22,642,991,531 but has since declined. Currently, although the BTC price is rising again, the concentration of bullish positions has not followed suit year-on-year, which is a potential warning sign for bulls 🚨. When prices rise but the concentration of bullish positions decreases, it indicates that whales may not be interested in increasing long positions (possibly starting to take profits or shorting)...

Therefore, it is crucial to pay attention to the data changes tonight. If the price rises again tonight while the concentration of positions continues to weaken, it would be a strong signal to short. Conversely, if the price drops while the concentration of positions continues to weaken, that would also be significant.

For bulls to continue their healthy upward attack, it would be best if the concentration of bullish positions can continue to climb, or if they first undergo a consolidation correction... This warrants ongoing attention!

Data source: blave.org

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