Coin Edition -
- Binance sees a surge in long positions as traders react to potential U.S. interest rate cuts.
- BitMEX whales remain cautious, showing little movement while awaiting clearer rate cut signals.
- Arthur Hayes warns of risk asset drops but sees Ethereum’s potential in falling U.S. rates.
Binance Traders Pile into Long Positions
The upward trend in Binance’s funding rates and OI shows a surge in long positions. This means that retail traders are becoming more optimistic about Bitcoin’s price movement in the short term. What’s more, Binance’s data reveals heightened activity and a possible buildup of late longs, likely driven by smaller investors anticipating a bullish turn following the rate cut news. Source: CryptoQuant This trend is in stark contrast to BitMEX, where open interest remains relatively stable, with minor dips observed before its recent stabilization. BitMEX whales, who typically hold larger positions, seem to be exercising caution as they await more clarity on the rate cuts.Whale Activity Shows Mixed Signals
Data on whale activity further highlights the market’s divided response. It’s worth noting that new whales and Binance traders continue to accumulate Bitcoin, adding to the market’s buying pressure. This increase in whale holdings suggests sustained confidence in the asset’s value, with recent transactions pointing towards a potential period of price growth.#Bitcoin Base Cost Analysis: Whales vs. New Investors“New whales and Binance traders are actively buying, while old whales continue to hold. This mix could signal market stability and potential price growth.” – By @IT_Tech_PL
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