Data: Bitfinex whale BTC long positions recently increased by 6%, reaching 48,615 BTC
ChainCatcher message, in the past few days, Bitfinex whale BTC long positions have increased by 6%, totaling 48,615 BTC. An analysis of Bitfinex whale activity for 2024 shows that on February 10, these whales held over 76,000 BTC, but by the historical peak in March, their holdings had dropped to 42,000 BTC.It is noteworthy that Bitfinex whales expect BTC to subsequently drop from a peak of around $73,500 to $56,500 on May 1. Since the position fell to a low on April 13, Bitfinex whale investors have been steadily increasing their holdings. With Bitcoin recently soaring from $56,500 to $62,000 over the past two days, Bitfinex whales continue to add to their positions.Historical trends indicate that Bitfinex whale activity is often a reliable indicator of price direction. When BTC prices peak, whale long positions tend to bottom out, as these entities take advantage of market declines to increase their positions. As prices rise, whale investors gradually sell off their positions.
