Despite a significant move to the upside in recent days, futures traders are betting that the current Bitcoin (BTC) rally will continue.
Namely, Bitcoin’s long/short ratio has reached a 1-month high of 1.0559, indicating that 51.36% of derivatives positions opened in the last 24 hours have been bullish, per data retrieved by Finbold from cryptocurrency futures trading and information platform CoinGlass on April 22.
Bitcoin long/short ratio chart. Source: CoinGlass
In the closing hours of Sunday, April 20, Bitcoin (BTC) shot up from $85,000 to $87,000. By press time on April 22, the leading cryptocurrency was changing hands at a price of $88,530, having marked a 3.40% gain on the weekly chart that has brought year-to-date (YTD) losses down to 5.33%.
BTC price 1-week and year-to-date (YTD) charts. Source: Finbold
Is the Bitcoin long/short ratio a reliable signal?
The second Bitcoin long/short ratio in the past 30 days, at 1.05, which is equivalent to 51.23% of positions
We współpracy z: https://finbold.com/bitcoin-long-short-ratio-hits-1-month-high/
