{"id":555962,"date":"2023-10-18T17:30:44","date_gmt":"2023-10-18T17:30:44","guid":{"rendered":"https:\/\/ktsl888.com\/?p=555962"},"modified":"2024-06-11T07:06:18","modified_gmt":"2024-06-11T07:06:18","slug":"binance-traders-go-bearish-on-bitcoin-but-heres-why","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/binance-traders-go-bearish-on-bitcoin-but-heres-why\/","title":{"rendered":"Binance Traders Go Bearish On Bitcoin, But Here’s Why They Might Regret It"},"content":{"rendered":"

Observing traders’ decisions about crypto, such as Bitcoin, especially on prominent exchanges like Binance, often holds the key to understanding the underlying currents in the market. Two critical events today, highlighted by renowned crypto analyst Ali Martinez, paint a curious picture of BTC’s current standing<\/a>.<\/span><\/p>\n

Majority Of Binance Traders Shorting BTC<\/span><\/h2>\n

Ali Martinez, a respected figure in the crypto analysis world, revealed some interesting data<\/a> concerning Bitcoin earlier today. According to Martinez’s X (formerly known as Twitter) post, most traders on Binance with open Bitcoin futures seem to expect a downturn.<\/span><\/p>\n

Related Reading: Bitcoin Takes The Lead As Crypto Funds See Third Straight Week Of Inflows<\/a><\/div>\n

Specifically, about 51% of these traders are shorting BTC. For clarity, shorting is essentially betting that the price of an asset will decrease. This data indicates that, at least on Binance, traders have a prevailing sentiment that Bitcoin’s price might be due for a dip.<\/span><\/p>\n

\n

As #Bitcoin<\/a> nears $29,000, roughly 51% of all accounts on #Binance<\/a> with an open $BTC<\/a> futures position are going short! pic.twitter.com\/o7SUMfHEyX<\/a><\/p>\n

\u2014 Ali (@ali_charts) October 18, 2023<\/a><\/p><\/blockquote>\n

Yet, it’s important to note that shorting doesn’t necessarily always translate to a lack of confidence in the asset. Traders might be hedging their bets<\/a>, capitalizing on short-term fluctuations, or employing a range of trading strategies that best suit their financial objectives and risk tolerance.<\/span><\/p>\n

Bitcoin Notable Price Achievement<\/span><\/h2>\n

On the same day, in another tweet, Martinez shared<\/a> that Bitcoin has achieved a notable milestone. The top cryptocurrency surged past the $27,900 mark, which Martinez identifies as the “short-term holder cost basis.”<\/span><\/p>\n

This means that those who have held BTC for a shorter duration and previously saw minimal profits could potentially be realizing gains.<\/span><\/p>\n

Related Reading: Bitcoin Path To $70,000? Analyst Shows What This \u2018Head And Shoulders\u2019 Pattern Reveals<\/a><\/div>\n

If Bitcoin maintains its position above this crucial price point, it may suggest a shift in market sentiment<\/a>, swinging more towards the bullish side, according to the analyst.<\/span><\/p>\n

\n

#Bitcoin<\/a> has crossed the short-term holder cost basis of around $27,900, which is a crucial psychological benchmark.<\/p>\n

If $BTC<\/a> maintains above this level, those short-term holders previously underwater may be back in profit. This could signal a shift to a bullish market sentiment! pic.twitter.com\/WilZ6CB67P<\/a><\/p>\n

\u2014 Ali (@ali_charts) October 18, 2023<\/a><\/p><\/blockquote>\n

This development starkly contrasts the aforementioned shorting trend on Binance, emphasizing the multifaceted and complex dynamics at play in the crypto market. <\/span>Meanwhile, the global crypto market has slipped by 0.4% in the past 24 hours following BTC’s drop of nearly 1%.<\/span><\/p>\n

\"Bitcoin
Bitcoin (BTC) price is moving sideways on the 4-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Bitcoin trades for $28,348 after retracing from its recent spike<\/a> earlier this week to above $30,000 due to a false report of the US Securities and Exchange Commission (SEC) approval of spot Bitcoin ETF<\/a>.<\/span><\/p>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Observing traders’ decisions about crypto, such as Bitcoin, especially on prominent exchanges like Binance, often holds the key to understanding the underlying currents in the market. Two critical events today, highlighted by renowned crypto analyst Ali Martinez, paint a curious picture of BTC’s current standing. Majority Of Binance Traders Shorting BTC Ali Martinez, a respected figure in the crypto analysis world, revealed some interesting data concerning Bitcoin earlier today. According to Martinez’s X (formerly known as Twitter) post, most traders on Binance with open Bitcoin futures seem to expect a downturn. Related Reading: Bitcoin Takes The Lead As Crypto Funds See Third Straight Week Of Inflows Specifically, about 51% of these traders are shorting BTC. For clarity, shorting is essentially betting that the price of an asset will decrease. This data indicates that, at least on Binance, traders have a prevailing sentiment that Bitcoin’s price might be due for a dip. As #Bitcoin nears $29,000, roughly 51% of all accounts on #Binance with an open $BTC futures position are going short! pic.twitter.com\/o7SUMfHEyX \u2014 Ali (@ali_charts) October 18, 2023 Yet, it’s important to note that shorting doesn’t necessarily always translate to a lack of confidence in the asset. Traders might be hedging their bets, capitalizing on short-term fluctuations, or employing a range of trading strategies that best suit their financial objectives and risk tolerance. Bitcoin Notable Price Achievement On the same day, in another tweet, Martinez shared that Bitcoin has achieved a notable milestone. The top cryptocurrency surged past the $27,900 mark, which Martinez identifies as the “short-term holder cost basis.” This means that those who have held BTC for a shorter duration and previously saw minimal profits could potentially be realizing gains. Related Reading: Bitcoin Path To $70,000? Analyst Shows What This \u2018Head And Shoulders\u2019 Pattern Reveals If Bitcoin maintains its position above this crucial price point, it may suggest a shift in market sentiment, swinging more towards the bullish side, according to the analyst. #Bitcoin has crossed the short-term holder cost basis of around $27,900, which is a crucial psychological benchmark. If $BTC maintains above this level, those short-term holders previously underwater may be back in profit. This could signal a shift to a bullish market sentiment! pic.twitter.com\/WilZ6CB67P \u2014 Ali (@ali_charts) October 18, 2023 This development starkly contrasts the aforementioned shorting trend on Binance, emphasizing the multifaceted and complex dynamics at play in the crypto market. Meanwhile, the global crypto market has slipped by 0.4% in the past 24 hours following BTC’s drop of nearly 1%. Bitcoin trades for $28,348 after retracing from its recent spike earlier this week to above $30,000 due to a false report of the US Securities and Exchange Commission (SEC) approval of spot Bitcoin ETF. Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":523579,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[166,428,1119,78790,6664],"class_list":["post-555962","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-analysis-2","tag-bitcoin","tag-btc","tag-btcusdt","tag-crypto"],"acf":[],"yoast_head":"\nBinance Traders Go Bearish On Bitcoin, But Here's Why They Might Regret It<\/title>\n<meta name=\"description\" content=\"Observing traders' decisions about crypto such as Bitcoin, especially on prominent exchanges like Binance, often holds the key to...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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Edyme","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktsl888.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","caption":"Samuel Edyme"},"description":"Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Binance Traders Go Bearish On Bitcoin, But Here’s Why They Might Regret It","url":"http:\/\/ktsl888.com\/news\/binance-traders-go-bearish-on-bitcoin-but-heres-why\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/binance-traders-go-bearish-on-bitcoin-but-heres-why\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-shorts.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-shorts.jpeg?fit=509%2C339"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analysis","bitcoin","btc","btcusdt","crypto"],"dateCreated":"2023-10-18T17:30:44Z","datePublished":"2023-10-18T17:30:44Z","dateModified":"2024-06-11T07:06:18Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Binance Traders Go Bearish On Bitcoin, But Here’s Why They Might Regret It\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/binance-traders-go-bearish-on-bitcoin-but-heres-why\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/binance-traders-go-bearish-on-bitcoin-but-heres-why\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/Bitcoin-shorts.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/Bitcoin-shorts.jpeg?fit=509%2C339\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analysis\",\"bitcoin\",\"btc\",\"btcusdt\",\"crypto\"],\"dateCreated\":\"2023-10-18T17:30:44Z\",\"datePublished\":\"2023-10-18T17:30:44Z\",\"dateModified\":\"2024-06-11T07:06:18Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-shorts.jpeg?fit=509%2C339","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/555962"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=555962"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/555962\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/523579"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=555962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=555962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=555962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}