The post 70% of Binance Traders Long On BTC, Exhibit Bullish Attitude appeared first on Coinpedia Fintech News
Traders on Binance are taking advantage of the chance to purchase the decline of Bitcoin. Recent data shows that almost 70% of such traders are long on BTC, demonstrating a very bullish attitude. As of Aug. 1, 2024, 69.3% of accounts had long positions and 30.7% had short positions, according to Binance’s orders distribution. This indicates a long/short ratio of 2.26. Significantly favoring long positions implies that the best traders think the current decline in Bitcoin is just a temporary setback and anticipate a bounce back.