Bitcoin Positions on Bitfinex Approach March 2024 Peak

Margin Longs on Bitfinex on the Rise

Bitfinex platform's margin long positions are attracting attention as an important indicator for Bitcoin. Positions have reached approximately 72,700 BTC. This figure marks a significant increase from around 55,000 BTC levels in October.

This rise bears similarities to the period before Bitcoin's peak levels of $73,000 in March 2024. Historically, significant Bitcoin dip levels coincide with periods when Bitfinex whales have reduced their long positions. However, no such signal has been observed at this time.