According to Kraken reports, Bitcoin investors make purchases from the bottom! Here are the latest data

Cracking According to Alexia Theodorou, the President of the Derivatives, Crypto Investors Bitcoin’in It takes advantage of the latest price decrease and the BTC buys the decline while decreasing to the lowest level of the three months.

According to Kraken reports, BTC descends below 88 thousand dollars and Bitcoin investors ‘purchase from the bottom’

Bitcoin fell below 88,000 dollars on Tuesday, while pointing out that the NASDAQ futures tendency to avoid risks continued to avoid risk, while he was often strong in front of the Japanese new US dollar, which was generally considered a safe port.

The decline came after an increase of $ 1 billion in open -term trading positions in Binance, and many traders shortened the BTC with the expectation of further decrease.

Kraken investors are waiting for recovery

Despite the decline, the rising traders in Kraken are loaded into long positions and raise the constant term long-short ratio to 0.8, a record level.

Theodorou In his statement, “Although Bitcoin’s price has fallen below 90 thousand dollars, Kraken saw an increase in traders who opened long positions in BTC markets. ”He said. “The Long/Short ratio climbed to a record level of 0.8, while the number of open positions has reached the highest level of the last four weeks. This shows that investors expect a recovery and effectively ‘buy the bottom level’. ”

While the bottom purchases point to a positive atmosphere, the long-short ratio remains below 1, so short positions are still more than long positions.

Theodorou“This ratio points to the underlying optimism, liquidations remain relatively normal levels, which shows that the excessive leverage is still present, ”He added. “This may leave the market vulnerable to more downward movements in the form of a long jam in the near term.”

Bitcoin’s price movement in the coming days will determine whether the purchase strategy from this bottom will work or whether the decline momentum will continue to pull BTC down.

*It is not an investment advice.