Bitcoin long/short ratio hits 1-month high
Despite a significant move to the upside in recent days, futures traders are betting that the current Bitcoin (BTC) rally will continue. Namely, Bitcoin’s long/short ratio has reached a 1-month high of 1.0559, indicating that 51.36% of derivatives positions opened in the last 24 hours have been bullish, per data retrieved by Finbold from cryptocurrency futures trading and information platform CoinGlass on April 22. Bitcoin long/short ratio chart. Source: CoinGlass In the closing hours of Sunday, April 20, Bitcoin (BTC) shot up from $85,000 to $87,000. By press time on April 22, the leading cryptocurrency was changing hands at a price of $88,530, having marked a 3.40% gain on the weekly chart that has brought year-to-date (YTD) losses down to 5.33%. BTC price 1-week and year-to-date (YTD) charts. Source: Finbold Is the Bitcoin long/short ratio a reliable signal? The second Bitcoin long/short ratio in the past 30 days, at 1.05, which is equivalent to 51...