Crypto
Bitcoin Longs Decline but Ratio Remains Positive Amid Rising Price Risks
According to Joao Wedson, both long and short Bitcoin positions have seen declines. Approximately 50K BTC in long positions were closed, but the open interest long/short ratio remains positive at 1.32, indicating that long positions still dominate across many exchanges.
This development comes as Wedson recently warned that Bitcoin's price risks falling below $57,000 due to market liquidation traps persisting.
In addition to tracking Bitcoin dynamics, Wedson has been observing undervaluation in other cryptocurrencies, noting that Dogecoin traded near a historically rare CVDD Channel undervaluation.