Rally

Moonriver

Wednesday

Bitcoin

Fortune

<p><strong>Bitcoin has seen a nice rally over the last couple months, gaining 37% to trade around $35,470 as of Wednesday night. According to data from Santiment, this rise has been accompanied by a shift to a more bullish sentiment among traders.</strong></p>
<p>Specifically, Santiment <a href="https://x.com/santimentfeed/status/1722317099681681848?s=20" target="_blank" rel="noopener noreferrer nofollow">reported</a> that the ratio of traders opening bullish positions versus bearish positions on bitcoin recently hit 3-month highs. This indicates that after bitcoin’s sell-off earlier this year, traders are now positioning for more upside by betting on continued gains rather than losses.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="623" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-165-1024x623.png" alt="" class="wp-image-372866" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-165-1024x623.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-165-300x183.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-165-767x467.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-165-1536x935.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-165-2048x1246.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-165-246x150.png 246w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-165-100x61.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-165-575x350.png 575w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-165-788x479.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-165.png 1737w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p><em>Source: <strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Santiment" href="https://captainaltcoin.com/go/santiment/" data-shortcode="true">Santiment – Start using it today</a></strong></em></p>
<p>Bullish trading positions like long futures contracts or call options profit when an asset’s price rises. So the increase in this ratio shows traders believe bitcoin’s uptrend will continue. In contrast, bearish positions like short selling or put options bet on declines.</p>
<p>Santiment also noted that the total open interest on exchanges has surged to $7.2 billion. Open interest refers to the total number of outstanding derivative contracts, like futures and options, that have not been settled. A rise in open interest alongside a rising price often signals increased enthusiasm and new money flowing into an asset.</p>
<p>Read also:</p>
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 <li><a href="https://captainaltcoin.com/estonian-bankers-469000000-ethereum-fortune-locked-away-forever-after-losing-keys-can-anyone-crack-the-eth-wallet/" target="_blank" rel="noopener noreferrer nofollow">Estonian Banker’s $469,000,000 Ethereum Fortune Locked Away Forever After Losing Keys – Can Anyone Crack the ETH Wallet?</a></li>
 <li><a href="https://captainaltcoin.com/join-etuktuks-revolution-only-few-hours-left-at-the-current-price/" target="_blank" rel="noopener noreferrer nofollow">Join eTukTuk’s revolution – Only few hours left at the current price</a></li>
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<p>The ballooning open interest indicates traders are actively taking on leverage to increase their exposure to bitcoin’s gains at this current stage of the bull market. However, as Santiment points out, extremely high open interest can sometimes signal frothy conditions and more volatility ahead.</p>
<p>Overall though, the shifting trader sentiment and surging open interest provides evidence that bitcoin’s uptrend still has room to run versus the rally getting overheated. Unless Something fundamental changes, the technicals and behavioral signs point toward bitcoin’s price continuing to trend higher as the bulls assert control once again.</p>
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<p>The post <a href="https://captainaltcoin.com/these-btc-indicators-suggest-bitcoin-bulls-are-back-in-charge-report/" rel="noopener noreferrer nofollow">These BTC Indicators Suggest Bitcoin Bulls Are Back In Charge – Report</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

These BTC Indicators Suggest Bitcoin Bulls Are Back In Charge – Report

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