Is Bitcoin Distributing or Accumulating in the $92K–$95K Price Range?

Aggregate net long positions have dropped in the $92K–$95K range, suggesting distribution over accumulation in Bitcoin’s current market.

Top traders are showing increasing interest in short positions, indicating a shift from bullish sentiment to a more cautious approach.

The position-to-account ratio has pulled back from 2.0, signaling reduced risk appetite as traders lock in profits or prepare for a pullback.

Bitcoin is trading between $92,000 and $95,000, and market behavior is drawing close attention. Traders are divided on whether this range signals distribution or accumulation.

Is Bitcoin Distributing or Accumulating in This Range?

A recent tweet by FundingVest reveals several key indicators that help shed light on market sentiment. One of the most telling signs is a noticeable decline in aggregate net long positions within the current price range. This change indicates that some traders may be unwinding positions, suggesting a move toward distribution.

Source: X/FundingVest

Top traders’ behavior further reinforces this trend. According to the Top Trader Long/Short Accounts Ratio, there's a rising interest in short positions. This shift signals that a segment of seasoned traders is now moving away from longs, possibly preparing for a downward move.

The per-trader position data supports this cautious stance. Many traders appear to be closing out positions and adopting a wait-and-see approach. While not a mass exodus, it points to reduced confidence in an immediate rally.

Top Traders Show Reduced Risk Appetite

The position-to-account ratio, often used to assess risk tolerance among active traders, has slipped from the 2.0 mark. Though still at relatively high levels, the drop suggests a cooling risk appetite. This adjustment hints that traders are becoming more cautious, possibly anticipating a shift in momentum.

Source: X/FundingVest

Adding to this cautious sentiment, some investors have started locking in profits from earlier long positions. Others have begun opening short positions, which further supports the theory that the market may be preparing for a pullback.

Yet, this isn't a one-sided market. If short positions continue to grow and reach overcrowded levels, the conditions for a short squeeze could develop. Such a move could trigger a sudden price rally, catching bearish traders off-guard.

Market Metrics Signal a Tense Standoff

FundingVest concludes that this range has become a battleground for opposing strategies. If the Accounts Long/Short Ratio continues its upward climb while net longs fall, pressure may build for a steep price correction.

Source: X/FundingVest

However, the presence of aggressive short entries could lead to volatility on both sides. The direction will likely depend on how trader positioning evolves over the coming sessions. Until then, the range between $92K and $95K remains one of heightened caution and strategy.

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