Analysts say short positions dominate Bitcoin derivatives market, while long positions face liquidation pressure

On April 3rd, CryptoQuant analyst Axel Adler Jr stated that the Bitcoin Position Index's 30 day Simple Moving Average (SMA-30d) has been continuously falling since hitting a local high of+3.0 on March 17th, and has now dropped to -3.1, reflecting the accumulation of short positions. During the same period, the price of Bitcoin fell from $74883 to $66603, indicating a weakening market structure. The liquidation oscillation index rebounded to 18.6% since mid March, indicating that long positions continue to be forcibly liquidated. If the 30DMA does not reverse downwards, the bullish pressure will continue, and the risk of the price falling below $66000 will intensify. The current suggestion is to avoid risks.