Bitfinex whale BTC long position increased by 6% recently, reaching 48,615 BTC

It was reported that Bitfinex's BTC long positions held by whales had increased by 6% over the past few days, reaching a total of 48,615 BTC. Analysis of Bitfinex whale activity in 2024 shows that on February 10th, these whales held over 76,000 BTC, but by the historical high point in March, the holding had dropped to 42,000 BTC.

It is worth noting that Bitfinex whales expect BTC to subsequently drop from a peak of about $73,500 to $56,500 on May 1st. Since the position hit a low point on April 13th, Bitfinex whale investors have been steadily increasing their holdings. Despite Bitcoin's recent surge from $56,500 to $62,000 in the past two days, Bitfinex whales continue to increase their positions.

Historical trends indicate that Bitfinex whale activity is often a reliable indicator of price direction. When the BTC price peaks, whale long positions often bottom out, and these entities use market downturns to increase their positions. As prices rise, whale investors gradually sell off their positions.