The trading patterns of top cryptocurrency futures traders are used as an important indicator to gauge the future movements of the cryptocurrency market. As they possess high trading expertise and market sensitivity, examining which assets they focus their long positions on helps understand the overall investment sentiment and direction. However, some may use futures contracts to hedge spot positions, requiring additional analysis when interpreting the data. Coinglass defines top traders as the top 20% in margin balance. [Editor's Note]
Long Position Status of Major Assets
According to Coinglass, the long position proportion of top futures traders for Bitcoin is 61.54% (-0.65%p) in dollar margin and 66.04% (+2.37%p) in coin margin. While buying pressure increased in the coin margin market, it slightly decreased in the dollar margin market, showing mixed directions.
Ethereum maintained a strong sentiment with high long proportions at 73.21% (+0.24%p) in dollar margin and 75.65% (-0.32%p) in coin margin.
XRP showed 69.70% (+2.11%p) in dollar margin and 79.14% (-0.68%p) in coin margin, with buying pressure expanding in dollar margin while experiencing some adjustment in coin margin.
Solana maintained a strong position at 69.35% (-0.20%p) in dollar margin and 86.50% (+0.51%p) in coin margin. Dogecoin showed some recovery in buying pressure at 77.51% (+1.99%p) in dollar margin and 77.08% (-0.30%p) in coin margin.
Long Position Account Proportion
Based on top trader accounts, Bitcoin's long holding proportion decreased in both markets, with 36.63% (-1.73%p) in dollar margin and 60.59% (-0.68%p) in coin margin, showing a clear wait-and-see sentiment.
Ethereum's proportion declined to 69.46% (-5.25%p) in dollar margin and 82.57% (-0.93%p) in coin margin, but still maintained a high level.
XRP largely continued its strong trend with 78.63% (+1.26%p) in dollar margin and 85.69% (-0.13%p) in coin margin.
Solana showed a slight adjustment at 68.51% (-1.56%p) in dollar margin and 83.91% (-1.03%p) in coin margin, while Dogecoin was at 78.60% (-1.38%p) in dollar margin and 86.80% (-0.68%p) in coin margin.
Strongest Position Assets
In terms of asset position proportions for top traders, the dollar margin market saw high long proportions for ▲BROCCOLI714 (86.8%) ▲BAT (86.8%) ▲TUT (84.9%), while the coin margin market showed ▲SAND (90.5%) ▲SOL (86.5%) ▲ALGO (84.4%).
In account-based strong assets, the dollar margin market showed ▲DODOX (87.00%) ▲QUICK (86.92%) ▲GTC (85.24%), while the coin margin market recorded ▲DOT (92.4%) ▲APT (91.8%) ▲NEAR (91.8%), confirming strong buying preferences for specific assets.
The dollar margin market (U market) is primarily preferred by institutional investors seeking stable returns, used to reduce volatility and for short-term trading and hedging. The coin margin market (C market) is often used by cryptocurrency bulls or long-term holders to increase assets through leverage. In a bull market, the open interest in the C market increases, indicating market optimism, while in a bear market, increased trading volume in the U market may suggest institutional fund inflow.
[This article does not provide financial advice, and the investment results are the sole responsibility of the investor.]
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