Despite the escalating tensions in the US-Iran conflict, Bitcoin and altcoins remain strong.
At this point, expectations of an uptrend in the market continue. However, this situation may be hindering the rise.
Cryptocurrency analytics company Alphractal stated in its latest analysis that increasing long positions are harming the market in the short term.
The analysis company stated that there were excessive long positions, particularly in Bitcoin ($BTC), Solana ($SOL), Litecoin ($LTC), and $AAVE.
Analysts noted that in the last 30 days, newly opened positions have been predominantly long positions, indicating that this is an obstacle to the uptrend.
“…And our liquidation levels show exactly that for $BTC, $SOL, $LTC, and $AAVE. In the last 30 days, newly opened positions have been predominantly long positions.”
This situation often acts as a brake on further growth.”
Analysts concluded that this situation also reflects the current concern about the resumption of the uptrend in the market, stating that “it is likely that more long liquidations will occur before a rise typically takes place.” According to analysts, this means that a potential downtrend could occur.
*This is not investment advice.
