Traders on Binance are taking advantage of the opportunity to buy Bitcoin when the price drops. Recent data shows that almost 70% of such traders buy BTC, demonstrating a very bullish attitude among elite traders on the platform.

As of August 1, 2024, 69.3% of accounts had Long positions and 30.7% had Short positions, according to Binance order allocation. This figure shows a Long/Short ratio of 2.26. The significant support for long positions implies that the best traders see Bitcoin's current decline as a temporary setback and anticipate a rebound.