BTC bounced and F&G is back in Greed (64), but alt positioning on Bybit looks crowded: MNT, HBAR, XRP all ~80% long

Snapshot from Bybit perps this morning (\~07:50 UTC). Long % is by account (L/S ratio):

\- MNT: 83% long

\- HBAR: 80% long

\- XRP: 79% long (L/S 3.81), funding +0.0021%

\- JTO: 74% long

\- ETH: 71% long (L/S 2.50), funding +0.0004%

\- BTC: 63% long (L/S 1.70), funding -0.0011%

What stands out to me: BTC bounced from \~80.4k to \~82.7k, but BTC funding is still slightly negative. So the crowd is long by headcount, but the money isn't paying up to hold it. On alts, positioning is much more one-sided than on BTC.

Historically, when retail is this lopsided on alts while BTC funding stays flat, I've seen it resolve with a flush before continuation more often than not, but that's my experience, not a rule.

Is anyone else seeing the same skew on other exchanges? Do you treat high long % as a contrarian signal or ignore it?

Edit: a few people asked about OI. I track L/S, funding and OI for all 53 coins and post updates in a free Telegram channel (link in my profile).