I don't have the answers, I admit I am genuinely confused by the steep climb of BTC shorts (and general increase in shorts when the price is lowest vs reduction when prices are at their local peaks). It also seems that the market is in two minds and predicting a decline below support of $6000 to $5755.
What I would say is that those in short positions haven't had a very good record of picking price drops recently and many of the same people may be showing themselves in the BTC LONGS. This is a time when a lot of people are adding to their long term BTC holdings as they view BTC as being in the accumulation zone. I will admit that I took the opportunity to pick up BTC and XLM at recent lows over the past 24 hours. Remember that just because you will it, doesn't mean that BTC will go where you would like it to go. Let's not be taken in by wishful thinking. What may very likely happen is that a price increases liquidates a lot of these shorts or at least hits their stop-losses and very quickly increases the price before the longs increase and "come to the party".
Oh well, let's see what happens. Good luck everyone.
Good observation am also confused myself, but am of the opinion that the whales are trying to push the market down or pretend to be doing so in other to cause panic selling. I expect the longs to pile up once the short stop loss is hit. But let’s see how this plays out .
Sure, that may be a strategy of bigger players. It might also be people believing all the "$3000 BTC" hype and deciding to enter shorts a little too late in a belief that the down-trend will continue. The longs did spike up last night while the shorts reduced sharply.
panconpalta
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Shorts are leveraged up, bulls are all on spot. Even if we dip it's not going to be too deep