The long-to-short ratio for traders on Binance has fallen to 1.20, marking a significant shift in market sentiment as bullish leverage demand wanes. This decrease from 1.93 represents the lowest level in 30 days, indicating a cooling interest in leveraged long positions amidst Bitcoin's recent price fluctuations. Bitcoin (BTC) has traded within a narrow range of 8% recently, stabilizing near $69,000 after falling to $60,130 on Friday.
Despite the price volatility, US-listed Bitcoin exchange-traded funds (ETFs) have experienced a strong resurgence with $516 million in net inflows since Friday. This influx suggests that major investors, or whales, remain optimistic about Bitcoin's potential, countering the negative sentiment seen earlier in the month when $2.2 billion was withdrawn from ETFs.
The correction in Bitcoin's value follows a steep decline from its all-time high of $126,220 in October 2025, leading traders to adopt a more cautious approach. Additionally, on OKX, the long-to-short ratio for top traders dropped to 1.7, down from a peak of 4.3, coinciding with a significant $1 billion liquidation in bullish futures positions.