Data shows pro traders increased leveraged long positions even as the Bitcoin price traded in a tight range this week.
Bitcoin (BTC) might have been ranging from $57,000 to $59,500 over the last couple of days, but the top traders at major exchanges have increased their long positions. A similar move also happened in the monthly futures contracts, as the basis rate has increased.Bitcoin price at Coinbase, USD. Source: TradingViewAfter marking a $61,750 all-time high on March 13, Bitcoin has been trying to find new support levels. Although BTC initially held ground at $54,000, there currently seems to be decent buying activity around $57,000.While professional traders’ optimism (as measured by their long-to-short exposure and the futures contracts premium) has gone down substantially, their interest seems to be picking up, and this is a bullish indicator.Top traders increased their long positionsThe top traders’ long-to-short
Źródło: https://cointelegraph.com/news/key-bitcoin-price-metric-shows-pro-traders-increased-their-btc-longs
