$BTC is down 5.6% in 24h and a bigger share of accounts is long now than a day ago.
Binance 74.1% to 77.5%, Bitget 78.9% to 82.0%, OKX 73.5% to 75.8%.
Open interest on Binance and OKX is about flat in BTC terms, so not many of those longs actually got flushed
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$BTC perp open interest across venues fell $681M in 3h last night, then refilled $585M by this morning.
Price is still down 2.2% in 24h.
The leverage that got flushed came straight back
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$BTC down 5.4% in 24h, and long accounts jumped across venues:
OKX 58.7% to 74.2%
Binance 58.5% to 76.1%
Bitget 66.8% to 78.5%
Crowd bought the whole dump
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Binance $BTC long accounts: 65.7% to 58.5% in 24h.
Lowest stretch since Oct 22, with price up 2.5%.
Second day in a row the crowd fades the bounce
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$BTC tagged $81.2k, up 2.5% since noon.
Perp open interest across 3 major venues fell ~$470M in the same window.
Shorts paid for this leg. Who buys the next one?
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$BTC up 2.3% in 24h, and the share of long accounts fell on 3 venues:
OKX 72.6% to 64.0%
Binance 72.9% to 65.7%
Bitget 76.7% to 71.6%
More traders fading this bounce than chasing it
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Binance BTC longs went from 68% to 73% of accounts in 24h.
Price did -1.2% in the same window.
Who's selling to all these dip buyers?
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