🤔 This week: TSLA Q3 earnings report - is now the right time to buy the EV giant?Explore TSLA Data

BTC Traders on Binance Are Betting Against the Market Leader

Published 10/18/2023, 07:18 PM
Updated 10/18/2023, 07:45 PM
BTC Traders on Binance Are Betting Against the Market Leader
BTC/USD
-

  • 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.

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…

The post BTC Traders on Binance Are Betting Against the Market Leader appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.