"Buyer Anxiety Spurs Over 60% Drop in Long and Short Positions, Signaling 'Wait-and-See Mode'"

# Profit-Taking Dominates Despite Tariff Relief; BTC, ETH Decline while XRP Surges with Trading Volume Spike The cryptocurrency market exhibits signs of consolidation even amid optimism regarding potential tariff relief following U.S.-China trade negotiations progress. The predominant activity is profit-taking, overshadowing the positive sentiment. In the derivatives markets, both long and short positions have witnessed significant declines, reflecting traders' increased caution. Data from Coinglass as of 10:30 a.m. on the 13th shows that long positions have decreased by 64.01% over the past four hours to $4.65 billion, while short positions have dropped by 63.37% to $5.08 billion. This indicates traders are minimizing risk following recent sharp price rebounds, closing positions as the market shows signs of cooling down. # Diverging Long-Short Signals Across Exchanges: Cautious Buying vs. Risk-Averse Stance Position data across exchanges have revealed varying trader preferences. On Binance, the long-to-short ratio for regular accounts is 0.80, indicating short positions' dominance. However, the ratio for top trader accounts has increased to 0.94 (+1.06%), suggesting a cautious shift towards long positions. Based on position size, the long-short ratio stands at 1.60, still favoring longs but down 1.67% from the previous day, indicating some profit-taking. At OKX, the long-short ratio for top traders has risen to 1.09 (+6.38%), signaling a modest recovery in buying sentiment. However, by position size, the ratio remains at 0.79, favoring shorts, but with a notable 9.61% increase, hinting at renewed interest in long positions. This highlights a mixed sentiment, where short-term corrections absorb fresh buying pressures. # Bitcoin Drops 2% Amid High-Price Resistance; XRP Outperforms with a 4% Gain As for price action, the market took a breather following recent short-term rebounds. Bitcoin (BTC) fell 2.21% to $10,255, reflecting resistance at higher price levels. Ethereum (ETH) similarly declined by 2.88% to $2,469. Conversely, XRP (XRP) stood out with a 3.95% gain, becoming the only major cryptocurrency to rally amidst the downturn. XRP's trading volume surged by 240.89% from the previous day, reaching $19.38 billion, thereby attracting significant market attention. Solana (SOL) dropped 2.33%, yet its trading volume increased by 73.38%, signaling persistent demand for active trading. In contrast, Dogecoin (DOGE) (-5.87%) and Sui (SUI) (-6.18%) suffered relatively steep losses. SUI faced liquidation pressures as its funding rate increased to 0.0202% due to excessive long positions. Sector-wise, meme coins exhibited weakness, while BNB (BNB) (+137.14%) and Cardano (ADA) (+85.28%) experienced substantial increases in trading volume but faced price corrections, indicating an entry into a cooling phase following overbought conditions. # Market Sentiment Signals Neutrality Amid Uncertainty The Alternative Fear and Greed Index, a key measure of investor sentiment, remains in the neutral zone, reflecting market indecision and suggesting a short-term phase of directional exploration. For now, external events are likely to drive price action, with both buyers and sellers engaged in a tug-of-war.