- Ali revealed in an X post today that 51% of traders on Binance with open futures positions are shorting BTC.
- BTC was up 1.85% — boosting its price to $28,696.32, at press time.
- From a technical standpoint, BTC was trading in a medium-term positive price channel.
The cryptocurrency analyst and trader, Ali, revealed in an X (formerly Twitter) post earlier today that traders are busy shorting Bitcoin (BTC) on Binance. According to the post, roughly 51% of all accounts on the leading exchange platform with open BTC futures positions are going short.
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— Ali (@ali_charts) October 18, 2023
Meanwhile, data from CoinMarketCap indicated that the market leader achieved a gain over the past day of trading. At press time, BTC was up 1.85%. This positive daily performance also boosted BTC’s weekly performance to +5.99%. Subsequently, the cryptocurrency’s price stood at $28,696.32.
BTC’s latest increase in price was also enough to earn it the top spot on CoinMarketCap’s trending list. This placed it above Big T…
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