WARNING: Bitcoin bears $BTC are at risk of significant losses as strong inflows into spot Bitcoin ETFs highlight the return of institutional investor demand.
Key highlights:
🔸 Traders with a bearish position in Bitcoin were surprised by the surge of BTC above $90,000.
🔸 Spot volumes are driving the price increase of Bitcoin.
🔸 Derivative positions with a bearish bias remain at risk of liquidation.
The $BTC stayed above the $93,000 mark on April 24, suggesting a possible conclusion to the 52-day bear market, which bottomed at $74,400. Although Bitcoin is beginning to show signs of decoupling from the stock market, professional traders have not yet changed their strategies, as indicated by BTC futures and margin market data.
A higher long/short ratio reflects a preference for long positions (buy), while a lower ratio indicates a bias towards short contracts (sell). Currently, the long/short ratio of top traders on Binance is at 1.5x, a notable drop from the 2x level observed ten days earlier. On OKX, the ratio peaked at approximately 1.1x on April 17 but has since lost strength and is now at 0.9x. #Binance #OKX #BTC #trades