[Futures trader picks] Bitcoin dollar-margined long share rises 3.02 percentage points

Bitcoin’s dollar-margined long position share rose 3.02 percentage points, the largest increase among the five major tokens tracked on October 27. Solana followed with a 2.24-point gain, while changes in coin-margined positions and long-account shares were generally smaller.

Bitcoin’s dollar-margined long position share reached 65.83%, up 3.02 percentage points from October 26. Ethereum rose 0.79 points to 64.53%. Solana increased 2.24 points to 71.27%, while XRP added 0.51 points to 67.53% and DOGE gained 0.57 points to 76.11%.

Coin-margined long position shares showed smaller, mixed changes. Bitcoin increased 0.34 percentage points to 72.09%, while Solana rose 1.15 points to 86.94%. Ethereum declined 0.80 points to 75.95%. XRP edged up 0.08 points to 84.38%, and DOGE added 0.21 points to 79.16%.

Dollar-margined long-account shares increased across all five tokens. Bitcoin rose 1.53 percentage points to 71.59%, XRP gained 1.07 points to 79.17%, and Solana added 0.97 points to 77.85%. Ethereum increased 0.78 points to 76.10%, while DOGE rose 0.62 points to 77.77%. Coin-margined long-account shares moved less: Solana gained 0.37 points, Bitcoin and Ethereum each added 0.27 points, XRP rose 0.11 points and DOGE increased 0.08 points.

[Editor’s note]Position shares and account shares measure different aspects of futures positioning. Long exposure alone does not establish a trader’s overall market view, since futures positions can also serve as hedges.

Coin-margined long shares remained above their dollar-margined equivalents across all five tokens, on both a position and an account basis. Bitcoin’s coin-margined long-account share stood at 79.46%, compared with 71.59% for dollar-margined accounts. DOGE had the highest coin-margined long-account share among the five at 91.81%.