Bitfinex traders double down on bitcoin during five-day slide as longs hit 2.5-year high
CoinDesk
Bitfinex traders increased margin long positions to a 2.5-year high despite Bitcoin's recent five-day price decline.Summary
Bitcoin has faced a five-day losing streak, dropping from over $80,000 to approximately $76,000. Despite this volatility, Bitfinex margin long positions have climbed to 80,636 BTC, marking a 2.5-year high. This divergence suggests that large traders are accumulating assets during the downturn, often viewed as a contrarian indicator. Currently, Bitcoin is testing key technical support levels near $78,000, with analysts monitoring the 200-day moving average at $81,000 as a major hurdle for a potential recovery.
(Source：CoinDesk)