The current market is more short than during the previous FTX crisis
Deep tide TechFlow news, SignalQuant disclosed data in CryptoQuant showing that the current market is dominated by shorts, and there are more shorts than when the FTX crisis occurred.
The thick purple line in the figure represents Bitcoin price, and the thin blue line represents Taker BuySell CVD. Taker BuySell CVD "shows the trend in the difference between long and short volume. The indicator also shows 0 as neutral, green areas as longs outnumber shorts, and red areas as shorts outnumber longs.
The indicator’s trend (30DMA) is at very low levels and there are more shorts than when the FTX crisis occurred on November 23rd.
SignalQuant said that historical patterns show that after periods when market bears dominate, Bitcoin prices either fluctuate sideways or rebound sharply.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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