Bullish bitcoin (BTC) bets on Bitfinex, one of the longest-running crypto exchanges, have notably increased in recent weeks, presenting bearish dues for BTC’s price which has fallen below critical moving average support.

Data from TradingView shows that BTC/USD long positions on Bitfinex have surged by 20% over the past three months, reaching 52,774 margin trading positions. These longs represent positions using borrowed funds to purchase bitcoin, amplifying both potential gains and risks.

Typically, a rise in long positions implies strong buying pressure and a bullish market sentiment. However, bitcoin’s market has historically shown a paradox where increases in leveraged long positions often precede price declines. This phenomenon is attributed to traders’ tendency to misjudge market t

See Full Page