Bitcoin Long Position Increase Sparks Caution Amid Price Decline

The current BTC price stands at $118,272.80, reflecting a decrease of 28.10%. Open interest has slightly declined to 89,092.569 BTC, down by 1.178 BTC. The USDT value of open interest has increased by $549,260, reaching a total of $10.54 billion. The top trader's account is predominantly short, with less than 1.38% of the position, while the largest trader holds a long position exceeding 25.38%. The overall sentiment shows a slight increase in long positions to 46.06%, up by 0.01%, whereas short positions make up 53.94%, decreasing marginally by 0.01%. Notably, the proportion of long positions is increasing, which warrants attention.