This key Bitcoin price indicator shows pro traders buying each dip

(BTC) might have failed to sustain the $42,000 support, and for many, this is a slightly bearish sign. Interestingly, the downward move occurred shortly after Saudi Aramco (SE:), KSA’s largest oil exporter, denied claiming to start mining Bitcoin.

Top traders at exchanges seized the opportunity to add leverage-long positions, a clear bullishness indicator. Furthermore, margin traders have been increasing their stablecoin borrowing, indicating that whales and professional traders are expecting more upside from cryptocurrencies.

OKEx top traders BTC long-to-short ratio (above) and BTC price at Bistamp in USD (below). Source: OKEx & TradingView
OKEx USDT/BTC margin lending ratio. Source: OKEx