Share this article
Bullish Sentiment for Bitcoin Is at a 5-Month High
The difference between long and short positions placed on bitcoin is at its highest level since Aug. 5.
By Sam Ouimet
Updated Sep 13, 2021, 8:44 a.m. Published Jan 9, 2019, 5:31 p.m.
The ratio of long-to-short positions placed on bitcoin has reached its highest level in over five months on cryptocurrency exchange Bitfinex.
At press time, the BTC long positions placed on the exchange total 33,750 units, worth $137.3 million at current market prices, whereas the number of short positions is roughly 11,000 units less at just 22,787 - now worth just under $93 million.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
This creates the long-to-short ratio of nearly 1.5:1 – its highest since August 6th of last year.
Bitcoin longs and shorts (Bitfinex)
The drop in short positions is not exactly surprising, considering the price of bitcoin fell roughly 50 percent between Nov. 14 and Dec. 14, giving traders ample time to lock in profits while awaiting further opportunities.
A bullish technical reversal pattern known as the “inverse head and shoulders” pattern is also evident on the bitcoin’s price chart, which may be playing another factor in scaring bears out of the market for now.
Although the long/short ratio being at multi-month highs may seem encouraging for bitcoin bulls, the market will likely witness another sharp decline if key support near $3,200 is breached, as it would signal the latest corrective bounce to nearly $4,400 has ended.
This would put the market at risk of experiencing a “long squeeze” or rapid closure of long positions, which could have a rapid and bearish effect on the price of bitcoin since the only way to terminate a long position is to sell back the longed BTC.
Disclosure: The author holds BTC, AST, REQ, OMG, FUEL, 1st and AMP at the time of writing.
Bull image via Shutterstock; Charts via TradingView
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bank of Japan Set to Hike Rates to 30-Year High, Posing Another Threat to Bitcoin
Rising Japanese rates and a stronger yen threaten carry trades and could pressure crypto markets despite easing U.S. policy.
What to know:
- According to the Nikkei, the Bank of Japan (BoJ) is set to increase interest rates to 75bps, the highest level in 30 years.
- Rising Japanese funding costs, alongside falling U.S rates, could force leveraged funds to reduce carry trade exposure, increasing downside risk for bitcoin.
Top Stories
