Bitcoin traders utilizing the popular derivatives exchange BitMEX still seem significantly more bearish on the asset’s future price developments, on-chain data reveals.
At the same time, a prominent analyst argued that the most violent stages of the recent market crash are over, which could suggest good entry opportunities.
BitMEX BTC Traders Still Bearish
Bitcoin’s price went through a roller-coaster in the past month propelled by FUD and over-leveraged positions on derivatives exchanges. Despite recovering to some extent from the mid-May bottom at $30,000, the asset might not be out of the woods yet.
Although the leveraged positions are substantially less now as some traders may have learned a painful lesson, data from the cryptocurrency analytics tool Santiment reveals that users employing BitMEX still envision adverse price developments for BTC.
“BitMEX traders are continuing to short Bitcoin in large quantities, at the most bearish ratio since April 2020.” – reads the fi

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Źródło: https://cryptopotato.com/analysis-bitmex-traders-short-btc-in-large-quantities-good-buying-opportunity/