Bitcoin Shorts Increase as Price Stays Within $100,000–$110,000 Range
Bitcoin (BTC) has been trading within the $100,000–$110,000 range for nearly a month after reaching an all-time high of $111,814. Both long and short positions are increasing, with shorts rising faster.
Current Market Dynamics
- Long positions have a slight edge over shorts, but both remain balanced.
- The funding rate is near neutral, indicating uncertainty between bulls and bears.
- Short positions are increasing, driven by expectations of potential price declines amid geopolitical tensions.
- A decisive breakout from the current range could dictate BTC's next major movement.
Market participants lean toward short positions, suggesting the potential for a surprising upward move.
Potential Future Movements
- Analysts speculate that BTC may be preparing for a significant move, possibly upwards.
- Crypto trader Josh Olszewics suggests BTC could reach $150,000 if liquidity supports it.
- Technical analysis shows BTC forming a bullish inverse head & shoulders pattern on the 3-day chart.
- Caution is advised as recent on-chain data indicates Bitcoin may be overpriced.
As of now, BTC trades at $105,940, reflecting a 1.1% increase in the past 24 hours.
