Crypto-常山赵子龙|Jan 11, 2026 14:15
BTC ETH
Let’s analyze the current market situation:
Image 1: The open interest signals are a bit messy. Between 913-90, there was a wave of short chasing and left-side long positions from speculative funds. These funds have now exited. The long-short ratio is currently close to a level where short positions can start to close, and it’s approaching a level where speculative long positions in a consolidation phase could begin.
Image 2: This is the spot leverage long-short ratio data. Spot leverage traders closed the leverage they added around 88-89 near 94, and now they’ve added it back again.
Image 3 & 4: These are monitoring indicators for BTC inflows into exchanges. On the 10th and 11th, this indicator showed some anomalies, with BTC starting to flow intensively into exchanges.
At this position, the various indicators haven’t formed a strong resonance. Signals in the futures market lean towards buying, the spot leverage market is starting to lean towards buying, the on-chain market leans towards selling, and the premium indicator on Big B Exchange is neutral: the negative premium is narrowing and is almost gone.
So, opening either long or short positions at this price is a bit awkward. If you’re holding consolidation short positions, taking profit at this level is fine. For aggressive traders, you can open consolidation long positions now, but don’t use too much leverage. Be prepared to stop loss or add positions continuously if the price drops after Monday. For conservative traders, you can wait until the premium on Big B Exchange turns positive before considering entering the market.
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