I can't help adding a couple of thoughts. A friend asked me how to interpret the long/short ratio, so I used $ETH as an example:
The overall long/short ratio across all accounts is 3.28, meaning 76.6% are long and 23.4% are short.
A ratio above 1 means there are more longs; below 1 means there are more shorts. But most importantly, the more extreme the number, the more wary you should be of a move in the opposite direction.
#ETH
The overall long/short ratio across all accounts is 3.28, meaning 76.6% are long and 23.4% are short.
A ratio above 1 means there are more longs; below 1 means there are more shorts. But most importantly, the more extreme the number, the more wary you should be of a move in the opposite direction.
#ETH