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Last time we posted about the Long Short Ratio of altcoins, Bitcoin retreated by -16%, but has since partially recovered from that decline.
Factors such as significantly higher interest in long positions compared to Bitcoin tend to lead the market to form local tops and subsequently pull back. Now, the Long Short Ratio has once again shown a significant gap between Altcoins and Bitcoin, where coins like DOT, MATIC, XRP, ARB, RAY, RATS, among others, have contributed to widening this gap.
Traders are eagerly anticipating profits from long positions in many altcoins. Can we define this as a risk signal, or is it simply a natural market movement?
LIVEDominando Cripto
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The average Long Short Ratio of 33 Altcoins is 3.82, while BTC records 0.9, marking one of the largest differences in the last 2 years.
This demonstrates that traders open around 4 times more Long positions than Shorts due to a bullish conviction.
Historically, the closer the Long Short Ratio of Altcoins is to that of BTC, the closer it is to local bottoms in the market.
In other words, current values indicate high speculation, and few are expecting local bottoms.
This demonstrates that traders open around 4 times more Long positions than Shorts due to a bullish conviction.
Historically, the closer the Long Short Ratio of Altcoins is to that of BTC, the closer it is to local bottoms in the market.
In other words, current values indicate high speculation, and few are expecting local bottoms.
Disclaimer: Includes third-party opinions. No financial advice. See T&Cs.
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