Crypto even analysis firm Alphractal, Bitcoin’in Long/Short Ratios with several large altcoin He stated that there was a significant difference between Bitcoin and Bitcoin and suggested that a local peak may have occurred in its price.
In a statement, Alphractal stated that when the Long/Short Ratio of altcoins deviates significantly from Bitcoin’s ratio, this has historically signaled a local peak in Bitcoin’s price movements.
“Altcoins such as XRP, ONDO, LINA, KAS, and DOT are among the altcoins with the highest Long/Short Ratios, contributing to an average value of 2.48 among all altcoins,” Alphractal said. In comparison, Bitcoin’s Long/Short Ratio currently stands at 0.87, indicating that a significant number of investors are short. This trend has driven Bitcoin’s price up recently.
However, Alphractal warned that such low Long/Short Ratios for Bitcoin are unlikely to continue for a long time, as they usually indicate a shift in market sentiment. The firm noted that when the gap between Bitcoin’s Long/Short Ratio and altcoins grew particularly large, the Bitcoin price struggled to maintain its upward momentum and formed local tops over the last 240 days.
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/bitcoinde-yerel-zirve-goruldu-mu-analist-bu-5-altcoini-ornek-gosterdi/
