The current market is more short than during the previous FTX crisis
Deep tide TechFlow news, SignalQuant disclosed data in CryptoQuant showing that the current market is dominated by shorts, and there are more shorts than when the FTX crisis occurred.
The thick purple line in the figure represents Bitcoin price, and the thin blue line represents Taker BuySell CVD. Taker BuySell CVD "shows the trend in the difference between long and short volume. The indicator also shows 0 as neutral, green areas as longs outnumber shorts, and red areas as shorts outnumber longs.
The indicator’s trend (30DMA) is at very low levels and there are more shorts than when the FTX crisis occurred on November 23rd.
SignalQuant said that historical patterns show that after periods when market bears dominate, Bitcoin prices either fluctuate sideways or rebound sharply.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
How much is ETH really worth? Hashed provides 10 different valuation methods in one go
After taking a weighted average, the fair price of ETH exceeds $4,700.
Dragonfly partner: Crypto has fallen into financial cynicism, and those valuing public blockchains with PE ratios have already lost
People tend to overestimate what can happen in two years, but underestimate what can happen in ten years.
Balancer Rallies to Recover and Redistribute Stolen Funds After Major Cyber Attack
In Brief Balancer plans to redistribute $8 million to users after a massive cyber theft. The recovery involved crucial roles by white-hat researchers rewarded with 10% incentives. Unclaimed funds will undergo governance voting after 180 days.
Bitcoin Faces Renewed Selling Pressure as Whale Deposits Spike and Market Fear Deepens
Trending news
MoreCrypto prices
More
