Crypto traders on Kraken, one of the top crypto exchanges, are buying bitcoin (BTC) as its price drops to a three-month low. The decline in BTC follows a $1 billion increase in open futures positions on Binance, indicating traders anticipating a deeper price drop. However, on Kraken, bargain hunters have stepped in, leading to a record-high long-short ratio and increased open interest. This suggests that traders may be anticipating a rebound and are buying the dip. While this is encouraging for bullish sentiment, there are still more short positions than long positions, leaving the market vulnerable to further downside moves.



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