As you can tell from the totals, this doesn't represent all the Bitcoin that's out there. This is just margin positions at certain institutions via measured instruments (like futures contracts).
Let me illustrate why they don't have to be even.
Let's say the market cap of Bitcoin is $ 400B and there are no short positions at all. So there are $400B long. Obviously $400B doesn't equal zero shorts.
If I now borrow 1 bitcoin from you, and sell it to Tom, I create a short position for myself and Tom creates a long position for himself. I now have, say, $20,000 cash and a debt for 1 bitcoin.
I am "short" 1BTC. Tom is (newly) long 1 BTC and in the aggregate we have $400B(+Tom's $20K) in long positions and only $20K short. Still not equal....
If BTC goes down 25% to say $15,000, I might buy a bitcoin on the open market, pay it back to you, and now you are made whole, and I am up $5,000 cash.
Market wide we now have $300B (+Tom's $15K worth) in long positions and zero short...
etc...
Anyway, many of the positions being measured are long or short margin positions or futures at institutions. They take collateral (usually crypto) as security for loans which allow their clients to buy (or sell short) crypto or futures contracts, which is a standardized agreement to sell or purchase X amount of crypto at a certain price at a certain date in the future. The outstanding interest in these contracts also does not have to be equally weighted between longs and shorts.
Does that help?
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