[Futures trader picks] Bitcoin dollar-margin long accounts rise 7.64 points as positions fall 5.92 points

Bitcoin’s dollar-margin long account share rose 7.64 percentage points, while its long position share fell 5.92 points. Ethereum showed a similar divergence, with its long account share gaining 5.17 points as its long position share slipped 0.61 points.

On October 22, Bitcoin’s dollar-margin long position share stood at 59%, down 5.92 percentage points from October 21—the largest decline among the five major assets tracked. XRP rose 0.59 points to 69%, while Solana fell 1.80 points to 68%. Ethereum slipped 0.61 points to 62%, and Dogecoin gained 0.27 points to 75%.

Coin-margin long position shares showed smaller changes. Bitcoin slipped 0.37 percentage points to 70%, while XRP fell 1.13 points to 81%. Ethereum recorded the largest decline in this group, falling 1.79 points to 78%. Solana rose 0.58 points to 85%, and Dogecoin gained 0.44 points to 78%.

By account share, Bitcoin’s dollar-margin long reading climbed 7.64 percentage points to 66%. Ethereum rose 5.17 points to 72%. XRP gained 0.56 points to 74%, Solana added 1.39 points to 75%, and Dogecoin increased 0.62 points to 78%.

Coin-margin long account shares declined across all five assets. Bitcoin fell 0.17 percentage points to 78%, and XRP slipped 0.98 points to 86%. Ethereum dropped 1.29 points to 80%, while Solana edged down 0.06 points to 86% and Dogecoin declined 0.49 points to 91%.

[Editor’s note]Account shares and position shares are separate measures of futures positioning. Bitcoin and Ethereum’s dollar-margin readings illustrate why the distinction matters: a rising share of long accounts can coincide with a falling share of long positions. These readings alone do not establish the direction of future prices.