What does the Long/Short interest imply?

21 Oca 2021

It is interesting to look at the BTCUSDLONGS and BTCUSDSHORTS on this down move. The significant drop in leveraged long positions suggests that this is a profit taking move. Those that were in leveraged long positions are losing faith in a new ATH any time soon. They are getting bored. The corollary to this is that a further move down is not as likely to trigger a massive forced liquidation event since there are fewer leveraged positions.

My gut tells me no crash is imminent; but no big moves either. It could remain quite boring.