Btc Longs at ATH? Does this mean correction upwards incoming?

Just noticed BTC Longs has almost touched 80,000 whilst BTC shorts only touch 7000. This is giving a ratio of around 11:1 of Long to short, which is far higher than ratio during July leading up to last bull run.
I know biffinex isn’t the whole market, but I’d presume its a large enough sample size to be a representative of the market. Does this mean we are looking towards a correction upwards?
Generally curious what you guys think, im not exactly an expert at analysis. Just want everyone’s opinions and maybe someone smarter can explain what this means.

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14 thoughts on “Btc Longs at ATH? Does this mean correction upwards incoming?”

  1. This is how people get fucked. When whales see people putting in longs they normally do the opposite to take all they’re money. Lol

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  2. A little bounce up is very likely- after all we have had a record number of red weeks and a big dump. Probably just enough to get peoples hopes up before smashing them. Don’t get sucked in by it. Overall down is the direction we are headed imo unless there are some significant changes in the wider economic situation

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  3. It can mean whatever you want it to brother, in these times I won’t hold it against anyone, whatever helps process what’s going on.

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  4. Depends on if more are still in jeopardy of liquidation because if so we’re in a downward effect until it’s over

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  5. Yea, don’t trust the market just yet. I will only trust what I see once its less stormy waves out there. For at least a week or so.

    Doesn’t mean I won’t cautiously buy when I can….

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