Bitcoin just closed its fifth straight red week, and longs on futures keep piling up.
As of 09:32 Kyiv time, Nov 9. Spot BTCUSDT on Binance: five red weekly candles, from 86,530 to 74,851. Down 13.5%.
A month ago, on Oct 11, 59.7% of accounts were long. Today it's 73.7%. Top traders moved the same way: from 60.7% to 66.7% of positions.
Fear & Greed Index: 27, fear.
Fear in the headlines, confidence in the positions. And that confidence is still cheap: funding is 0.03% a day.
I don't know which side is right. The data shows where the crowd stands, not where price goes.
Before you read five red weeks as a signal, check which side your own position is on.
Top 5 perps by 24h change, as of 09:32 Kyiv:
JCT +135.3%. Longs pay 0.77% a day. Contracts +11%. Bigger side: shorts on retail, longs on top traders. Two sides, does not resolve.
HOT +33.8%. Shorts pay 14.9% a day. Contracts +54%. Bigger side: longs. Crowded and paying side: shorts.
AIOT +23.0%. Longs pay 0.26% a day. Contracts +10%. Bigger side: longs. Real move, no crowding.
HANA +19.0%. Longs pay 0.1% a day. Contracts +31%. Bigger side: longs. Crowded and paying side: longs.
ON +17.0%. Longs pay 0.24% a day. Contracts +13%. Bigger side: longs. Real move, no crowding.
$BTC $JCT $AIOT
#BitcoinFiveWeeklyLosses #Market_Update
As of 09:32 Kyiv time, Nov 9. Spot BTCUSDT on Binance: five red weekly candles, from 86,530 to 74,851. Down 13.5%.
A month ago, on Oct 11, 59.7% of accounts were long. Today it's 73.7%. Top traders moved the same way: from 60.7% to 66.7% of positions.
Fear & Greed Index: 27, fear.
Fear in the headlines, confidence in the positions. And that confidence is still cheap: funding is 0.03% a day.
I don't know which side is right. The data shows where the crowd stands, not where price goes.
Before you read five red weeks as a signal, check which side your own position is on.
Top 5 perps by 24h change, as of 09:32 Kyiv:
JCT +135.3%. Longs pay 0.77% a day. Contracts +11%. Bigger side: shorts on retail, longs on top traders. Two sides, does not resolve.
HOT +33.8%. Shorts pay 14.9% a day. Contracts +54%. Bigger side: longs. Crowded and paying side: shorts.
AIOT +23.0%. Longs pay 0.26% a day. Contracts +10%. Bigger side: longs. Real move, no crowding.
HANA +19.0%. Longs pay 0.1% a day. Contracts +31%. Bigger side: longs. Crowded and paying side: longs.
ON +17.0%. Longs pay 0.24% a day. Contracts +13%. Bigger side: longs. Real move, no crowding.
$BTC $JCT $AIOT
#BitcoinFiveWeeklyLosses #Market_Update