Data from the accounts of major traders on the Binance platform indicates that the overall sentiment towards Shiba Inu remains cautiously positive, despite the recent price decline. According to the current figures, this group of traders holds 52.01% of long positions compared to 47.99% of short positions, raising the buy-to-sell ratio to 1.08.
Although the gap between positions remains limited, it reflects a slight preference for the bullish scenario among professional traders. This distribution indicates that expectations lean towards a potential recovery, without entering into strong bearish bets against the currency.
The distribution of position sizes reflects caution in capital management. Analyzing open position sizes reveals a more conservative approach to capital injection. Major traders allocate about 48.82% of their exposure to Shiba Inu to long positions, compared to 51.18% for short positions, resulting in a buy-to-sell ratio of 0.95.
This distribution reflects a clear paradox, as the positive inclination in the number of accounts is evident, but without a strong commitment of capital on the buy side. This aligns with the recent price performance of the currency.
A previous downward trend requires caution. Shiba Inu experienced a sharp decline earlier, as the price dropped from around $0.000012 to $0.000007448 on October 10, marking a strong decrease over a short period. The pressure did not stop there; the price continued to decline later below this low.
On December 19, the price touched $0.000007011 before experiencing a limited rebound to $0.000007152. This slight improvement was not enough to alleviate traders' concerns about the possibility of hitting lower lows, which explains the continued caution in distributing positions.
A clear change in trader positioning after the recent correction. Before the last correction, data from major traders showed a stronger bullish conviction, with 62.3% of accounts in long positions compared to only 37.7% in short positions. Long positions then accounted for about 67.9% of total exposure, compared to 32.1% for short positions.
However, the recent decline in the market, which pushed the SHIB price down by about 2.1% over 24 hours, led to a quick shift in positioning. Short positions temporarily outnumbered long positions, reducing the buy-to-sell ratio to 0.95.
A positive outlook conditioned on risk management. Despite this decline in confidence, the vast majority of major traders' accounts still hold long positions, at 52.01% versus 47.99% for short positions. This balance indicates that optimism has not disappeared but has become more cautious.
Overall, Binance data reflects that major traders expect potential bullish opportunities for Shiba Inu, but they simultaneously prefer to manage risks through a balanced distribution of positions, in anticipation of any new downward wave that may appear in the market.
The post Binance data shows that major traders maintain a cautiously positive outlook on Shiba Inu despite the price decline appeared first on Yalla Crypto.
#CPIWatch #USGDPUpdate #WriteToEarnUpgrade #USCryptoStakingTaxReview
