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Top futures traders tilted more heavily toward long positions in Bitcoin (BTC) and Ethereum (ETH) on Friday, with CoinGlass data showing a sharp jump in the share of accounts holding BTC longs in the USD-margined market—an indicator often watched for shifts in leveraged sentiment and potential volatility.
At 12:15 a.m. ET on Aug. 1 (4:15 a.m. UTC), CoinGlass data tracking the positioning of “top traders”—defined as accounts in the top 20% by margin balance—showed divergent moves across major tokens and margin types, underscoring how leverage appetite can change quickly even when spot markets appear relatively stable.
In the USD-margined futures market, Dogecoin (DOGE) recorded the most notable pullback in long positioning by position share. DOGE longs accounted for 71.36% of positions, down 2.23 percentage points from the previous day. By contrast, ETH rose to 58.16% (+2.16 percentage points), while BTC edged up to 61.72% (+1.87 percentage points) and Solana (SOL) increased to 62.80% (+1.28 percentage points). XRP (XRP) was largely unchanged at 61.81% (+0.27 percentage points).
In the coin-margined futures market, ETH saw the clearest increase in long positioning by position share, climbing to 66.75% (+3.61 percentage points). BTC rose to 70.48% (+1.96 percentage points), while SOL, DOGE, and XRP showed more modest changes—78.41% (+1.12 percentage points), 75.50% (+0.99 percentage points), and 79.86% (+0.44 percentage points), respectively.
Account-based data, which measures the proportion of traders holding net long exposure rather than the share of total positions, showed even more pronounced shifts. In the USD-margined market, the share of accounts holding BTC longs surged to 70.26%, up 13 percentage points day over day—the largest change among tracked assets. ETH also posted a sizable increase to 69.56% (+9.35 percentage points). SOL rose to 75.65% (+3.55 percentage points) and XRP increased to 76.45% (+2.04 percentage points), while DOGE ticked up more modestly to 77.96% (+1.39 percentage points).
In the coin-margined market, BTC again led changes in account share, rising to 71.75% (+2.19 percentage points). SOL increased to 82.33% (+1.16 percentage points). ETH, XRP, and DOGE remained close to flat by comparison, at 76.40% (+0.85 percentage points), 85.10% (+0.76 percentage points), and 89.68% (+0.59 percentage points), respectively.