Data shows Bitfinex traders have closed 12,000 Bitcoin longs in the past week. Here’s what happened the last time the whales showed this behavior.
Bitcoin Longs On Bitfinex Are Now Down To 80,000 BTC
In a new post on X, analyst James V. Straten has pointed out an interesting pattern in the derivative positions of the Bitcoin whales on cryptocurrency exchange Bitfinex.
The below chart shows how the long and short positions (in BTC) on the platform have changed over the past year:
As displayed in the above graph, the Bitfinex exchange has had a relatively small number of short positions throughout the year. The long positions, on the other hand, have been quite sizeable.
At the start of the year, these Bitcoin long positions amounted to more than 100,000 BTC, but it would appear that the indicator has gone through two notable drawdowns since then.
The first of these plunges came right after the sharp rally that Bitcoin observed back in the middle of March, following its lows below the
We współpracy z: https://bitcoinist.com/bitcoin-whales-12000-longs-bitfinex-rally-stopping/
