Analysis: Bitfinex's bitcoin long position has fallen to its lowest level since December, indicating a bullish trend
2025-06-05 13:18:10
According to TradingView data, leveraged long positions in BTC/USD on Bitfinex have fallen to their lowest level since December last year. Historical data shows that the indicator is usually indicative of the opposite: long positions decrease during bull markets and increase during bear markets. For example, the market decline in 2022 and the pullback phase from $100,000 to $75,000 at the beginning of this year saw a significant increase in long positions; while the recent rebound from $75,000 to over $110,000 saw long positions continue to decline. Crypto analytics firm Alphractal pointed out that traders often misjudge the direction of the market, leading to forced or autonomous position squaring, which drives the price in reverse, the company's CEO João Wedson said: "As long as the long position of Bitfinex continues to decline, the price of bitcoin will continue to rise.
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