“BTC/USD Longs on Bitfinex Frequently Move Inverse to Bitcoin’s Price Action.”, – WRITE: www.coindesk.com
Data from TradingView Shows that BTC/USD Long positions on Bitfinex have a 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 Whore Increases in Levergrad Long Positions offen Precede Price Decklines. This phenomenon is attributed to traders’ tendency to misjudge market Trends, Leading to Forced Liquidations or Discretionary Selling that Push Prices in The OPPOSITE DIRECTION.
BTCUSD LONGS ON BITFINEX VS BTC’s SPOT PRICE. (TradingView/Coindesk)
Historical Analysis Reveals that BTC/USD Longs on Bitfinex Frequently Move Inverse to Bitcoin’s Price Action. For Instance, Past Rallies in Btc have a coincided with Declines in Bitfinex Longs, While Price Drops Have Come Alongside Rising Longs. This Contradictory Pattern Marks These Long Positions As A Contrary Indicator Rather Than A StraightForward Bullish Signal.
The Current Surge in Longs, Thererefore, Raises Bearish Caution. AT Press Time, Bitcoin’s Price Briefly Slipped Below Its 100-Day Simple Moving AVERAGE OF $ 113,283, A KEY TECHNical Level Whese Breach of MOMENTIMENT DUNTSE DUNTSE.
This Dynamic Underscores a Complex Interplay: While Levergged Longs Indicate Optimism, They Also Set Up Painful Liquidations IF The Market Reverses, WHICH COURCEA ANDCEA.
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Company Overtakes Bullish with $ 632 Million Purchase As Both Metaplanet and Capital B Shares Trade Lower.
- Metaplanet Becomes the Fiftth Largest Corporate Bitcoin Holder
- Metaplanet Adds 5.419 BTC in $ 632 Million Purchase, Taking ITS Total Holdings to 25.555 BTC.
- Capital B Acquired 551 BTC, Bringing ITS Total Reserves to 2,800 BTC.
- Shares of Both FIRMS Continue to Struggle, Trading Well Bell Below Historic Peaks
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