Bitcoin Perps Show Slight Bearish Tilt Among Derivatives Traders
The latest long/short ratios from three major crypto derivatives exchanges suggest that perpetual futures traders have a slightly bearish tilt. According to CryptoRank, the aggregate ratio across Binance, Bybit, and OKX shows 48.5% of positions are long, while 51.5% are short. This is based on open positions, not trading volume.
The data reveals a consistent pattern across all three platforms: Binance has 48.22% long, 51.78% short; Bybit has 48.28% long, 51.72% short; and OKX has 48.64% long, 51.36% short.
A long/short ratio below 50% indicates that more traders are betting on a price decline than on a rally. However, the current reading is only slightly bearish and may precede short squeezes if the price moves upward, forcing short sellers to cover their positions.