Historically, spikes in Bitfinex BTC/USD longs have acted as a contrary indicator.
What to know:
Bullish bitcoin long positions on Bitfinex have climbed to 79,343, the highest level since November 2023.
Historically, spikes in Bitfinex BTC/USD longs have acted as a contrary indicator, often coinciding with price tops and preceding sell-offs.
The latest surge in longs, combined with macro factors, point to a growing risk that bitcoin’s bear market could deepen.
Yes, you read the title right. The number of bullish bitcoin
BTC
$67,448.08
wagers, the so-called BTC/USD long positions, on the OG exchange Bitfinex has hit multi-month highs.
But, bulls hold !✅⚠️
BTC
66,778.72
+1.92%