Data shows the Bitcoin investors on derivatives exchanges still lean bearish toward the cryptocurrency even after the recent price recovery.

Bitcoin Short Positions Still Outweigh The Long Ones

In a new post on X, on-chain analytics firm Glassnode has talked about how Bitcoin market sentiment is looking from the lens of the derivatives market right now. The indicator shared by Glassnode is the “Long/Short Bias,” which measures the net amount of positions that large traders have currently opened.

When the value of this indicator is positive, it means the long positions outnumber the short ones. Such a trend implies the majority of the traders hold a bullish sentiment. On the other hand, the metric being under the zero mark implies more BTC positions are betting on a bearish outcome f

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