Insights

Bitcoin unhedged shorts sit at one-year lows

exchange68September 13, 2024

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Quick Take

CryptoSlate recently analyzed Bitfinex whale movement cashing out 12,000 Bitcoin.
Taking a further deep dive into hedged and unhedged shorts — they are currently sitting at one-year lows.
During the Luna and FTX collapse, unhedged shorts went parabolic due to the bearish sentiment at the time in the crypto ecosystem.
However, unhedged shorts remain at historical lows, indicating that investors don’t want to bet against Bitcoin now due to its 70% year-to-date return.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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