Bitcoin perpetual futures show a modest bearish tilt over the past 24 hours, with shorts representing 51.53% of open positions versus 48.47% for longs across Binance, OKX and Bybit, the three largest crypto futures exchanges by open interest. Binance has the widest gap at 47.75% long and 52.25% short, followed by OKX at 48.29% and 51.71%, while Bybit is closest to balanced at 48.51% and 51.49%. The figures measure the share of open positions rather than their dollar value, so they do not fully show the size of directional bets. Long/short ratios are sentiment indicators rather than standalone forecasts and are best assessed alongside funding rates, open-interest changes, volume and broader market conditions.