Bitcoin, Altcoins See Sharp Drop in Long Positions as Futures De-Risk

Bitcoin (BTC) and several major altcoins saw a sharp pullback in futures long exposure on Thursday, underscoring a sudden shift in trader positioning that could translate into higher near-term volatility across the derivatives market.

Data from Coinglass showed that, as of Thursday 12:15 a.m. ET, the share of long positions and the proportion of accounts holding longs declined across both ‘USDT-margined’ (USD-margined) and ‘coin-margined’ futures markets, with the steepest drop concentrated in BTC’s USD-margined account-based metric.

In position-weighted terms, BTC recorded the largest move…  Read more

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