Cryptocurrency analytics firm Alphractal has released a new assessment of Bitcoin, highlighting key trends in trading behavior and leverage positions that could indicate upcoming volatility. The firm mentions an increase in short positions in Bitcoin, with liquidation levels clustered above $110,000, which could result in a significant upward price move to liquidate these short positions. While this could create temporary excitement, Alphractal notes that most leveraged positions are still long positions, indicating a bullish sentiment among traders in the long term. Alphractal also highlights differences in leveraged trading activity between Bitcoin and Ethereum, with Ethereum whales more likely to engage in long positions compared to retail investors. The firm predicts increased volatility on Ethereum due to high leverage interest among whales, driven by efforts to liquidate short positions around $3,600. Alphractal also observes a decline in individual interest in Bitcoin based on certain metrics. Based on current metrics, the firm suggests a potential consolidation or local top for Bitcoin around the $110,000-$111,000 range, which could attract traders preparing for the next significant market move.



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