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Cryptocurrency Analysis Company CEO's Bold Claim for Surprise Altcoin: "I See No Other Way, The Direction is Up"
The CEO and analyst of the Crypto company Alphractal, Joao Wedson, stated in his assessment that despite short-term profit realizations in the market, the belief in a long-term rise continues.
According to Wedson, although leading traders have started to slightly reduce their short-term positions, strong confidence in the market continues.
Wedson highlighted the "Leading Trader Long/Short Ratio" data and examined the trading direction of the top 20% with the highest margin balance. Recently, this ratio has shown a slight decline from above the 2.1 level. This situation indicates that some high-level investors have shifted towards profit-taking or have opted to reduce risk following the recent Bitcoin rise.
However, the ratio is still above 2.5 on the daily chart, which indicates that high-cap traders are mostly maintaining their long positions.
Analysts noted that many "whales" are increasing their long positions, especially in Ethereum and other altcoins, and expressed that some investors are closing their Bitcoin positions and turning to altcoins. This shift creates high volatility in the market and many "trap" environments throughout the day.
Wedson also emphasized specifically for Polkadot (DOT): "DOT is about to exit the accumulation phase soon. Ignore the upcoming fluctuations and unwanted long liquidations. I see no other way for Polkadot; the direction is up."