Data shows margin traders continuing to add to their Bitcoin longs despite multiple failed attempts to break above $17,300. noshitcoins explains why their liquidation risk is increasing.
According to the analysis, the open interest stagnation on futures contracts indicated low confidence from bears.
Let’s look at derivatives metrics to understand better how professional traders are positioned in the current market conditions.Margin markets provide insight into how professional traders are positioned because it allows investors to borrow cryptocurrency to leverage their positions. The above chart shows that OKX traders’ margin lending ratio increased from Dec. 4 to Dec. 9, signaling that professional traders increased their leverage longs even after multiple failed attempts to break above the $17,300 resistance.
The indicator compares similar call and put options and will turn positive when fear is prevalent because the protective put options premium is higher than risk call options.
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