- Leveraged traders betting against Bitcoin often trigger bullish price reversals.
- Metaplanet plans to hold 100,000 BTC by the end of 2026.
Bitcoin traders are increasingly shorting the market, despite rising prices. Analysts note that this bearish sentiment often precedes upward rallies. Recent data from Alphractal shows a surge in retail short positions against Bitcoin.
The Leveraged Traders’ Sentiment indicator reveals a spike in bearish positions, combining funding rates with long/short ratios by position and account. Despite this pessimism, Bitcoin has continued its upward trend.
João Wedson, a market analyst, noted that leveraged traders are often positioned incorrectly, contributing to liquidations and fees that benefit exchanges. He explained that strategies opposing retail sentiment have shown success rates above 80%.
This pattern aligns with the current rally, where bearish positions are fueling further gains. The data supports an inverse correlation between Bitcoin’s price and retail sentiment, pointing to the value of understanding market psychology.
Bullish Technical Patterns Suggest Impending Breakout
The Crypto Titans highlighted a bullish pennant formation on Bitcoin’s 4-hour chart. This pattern typically indicates a continuation of upward movement. Bitcoin is currently trading at $104,807, with strong support in the $101,400 to $102,600 range.
The price recently bounced from this demand zone, signaling renewed buying interest. Analysts emphasized the importance of a descending trendline acting as the final resistance.
A breakout above this line could lead to a move toward a new all-time high. With momentum favoring the bulls, this week may prove crucial not only for Bitcoin but also for altcoins. While broader market signals remain mixed, Bitcoin’s current setup suggests a possible bullish continuation.
Metaplanet Revises BTC Target, Citing Economic Shifts
Japanese firm Metaplanet Inc. has revised its Bitcoin acquisition target to 100,000 BTC by the end of 2026. The company previously aimed for 21,000 BTC. CEO Simon Gerovich announced the change on June 6, referencing a global transition from capital and labor to digital and information-driven systems.
He stated that the updated plan reflects structural changes in economic fundamentals. The company currently holds 8,888 BTC, including a recent purchase of 1,088 BTC on June 2. Metaplanet aims to accumulate 210,000 BTC by 2027.
Gerovich noted declining trust in traditional safe assets like government bonds. He cited Bitcoin’s scarcity, ease of transfer, and independence from intermediaries as key advantages in the evolving financial landscape.
Bitcoin’s price behavior, fueled by bearish retail sentiment and reinforced by bullish technical indicators, points to potential upward movement.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
