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More Shorts than Longs? Decline? Are there more shorts than longs? Decline? Bitcoin’s price entered a decline trend following the bull run seen in the last quarter. This decline was supported by the Net Taker Buy & Sell CVD indicator dipping into the red zone and going below the decline trend line.
This indicator means that there is more short volume than long volume according to the 30MA. This shows that the price lost its upward momentum. The bull run that occurred in the last quarter was driven by expectations of a ‘BTC Spot ETF’. Therefore, if the ETF materializes, there is potential for the price to rise again. However, right now, there are more shorts than longs, numerically. Therefore, apart from the ETF materializing, it is likely that the price to decline in the short term.
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How Would the ETF Materialize Affect the Price?
If the ETF materializes, institutional investors are expected to enter the Bitcoin market. This may lead to a decrease in supply and a rise in price. However, the approval of the U.S. Securities and Exchange Commission (SEC) is required for the ETF to materialize. It is not yet clear whether the SEC will approve the ETF.
Advice for Short-Term Investors on Shorts Overall (More Shorts than Longs?)
Short-term investors need to be cautious about opening a position in Bitcoin, considering the current decline trend. If the ETF materializes, there is potential for the price to rise. However, if the ETF does not materialize, bear in mind that the price could fall further.
Advice for Long-Term Investors
For long-term investors, Bitcoin still offers an attractive investment opportunity. Bitcoin is an asset with the potential to appreciate in the long term. However, it’s important not to forget the potential volatility in the short term.
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