Hello HODLers,
This post will be about Crypto Futures data analysis combined with the Fear&Greed datas and my personal views about the upcoming months for Cryptocurrencies and Bitcoin in particular.
Binance Crypto Futures Data
Open Interest
As we can see, with the current bounce of the Crypto Market. The Open Interest increased to more bullish levels as traders and investors continue to build new leveraged positions after the big liquidation events of last
Top Binance Traders (Accounts and Positions)
Top traders account signal that the Long/Short ratio went down in terms of number of accounts and now sits at 47.8% Short / 52.2% Long.
In terms of Positions we can see the opposite at play and Long positions have been building up vs shorts. Today, June, 30th we sit at 47% Short / 53% Long. This is a metric more important to me as this is a notional value.
What about the Retail investors?
It seems Retail Investors have been selling their long positions and some even buying some shorts after this bounce. This is typical as usually retail traders tend to close positive positions fast and swing easily (which is usually not the good move).
Let's see what happens next but these metrics make me quite bullish as there is no excess greed at the moment and professional investors seem to be adding long positions while Retailers are selling theirs.
Bitcoin Fear & Greed Index
We are sitting quite low at c.30. Last time we were so low was back in March / April 2020 during the COVID19 Pandemic and we all know what happened next... The biggest Bullrun !
I also read in an interesting article that despite the FUD (UK Regulation, Binance FUD. Tether FUD...) Bitcoin moved UP ! Which was I must say surprising but it also shows that there might be a lot fo strong hands gathering these juicy Bitcoins.
To be continued...