Coinbase says 64% of long BTC positions opened above $80,595 spot price

Coinbase Markets reported that the largest cluster of net long Bitcoin (BTC) positions on its platform were opened at an average price of $81,993. With Bitcoin currently trading below this level, traders’ positioning has come under renewed focus as price volatility increases. Coinbase Markets, the institutional trading platform of Coinbase, indicated that 64% of net long notional was established above the spot level. A recent chart shared by the platform showed the bulk of leveraged long exposure for BTC being concentrated at prices above Bitcoin’s current market value.