The Bitcoin long-to-short indicator at Binance hit a 30-day low, suggesting a decline in bullish leverage demand. US-listed Bitcoin ETFs saw $516 million in net inflows after heavy liquidations. Bitcoin fluctuated within an 8% range near $69,000 following a drop to $60,130, leading to uncertainty among traders post correction.

Whales and market makers on Binance reduced bullish exposure, reflected in a drop in the long-to-short ratio. Top traders at OKX also saw a shift in the long-to-short ratio following a $1 billion liquidation event in bullish BTC futures. Strong ETF demand indicates Bitcoin whales remain bullish despite recent price weakness.

US-listed Bitcoin ETFs attracted $516 million in net inflows, reversing a trend of outflows. A collapse of an Asian fund leveraging ETF options via cheap Japanese yen funding was a leading theory for recent pressure. Bitcoin options market saw a surge in neutral-to-bearish strategies on Thursday after a price drop, reflecting market uncertainty.

Read more at Cointelegraph: Bitcoin Top Traders Hold Tight Despite 14% Price Recovery