Bitfinex Records 74% Surge in BTC Long Positions

Per latest data, the number of BTC long trades have significantly increased on Bitfinex by more than 74% in the last two weeks, touching its record high.

Meanwhile, the crypto experts suggest that given the fact that Bitfinex is one of the world’s top crypto trading platforms, the latest figures can be used as a sign in the crypto market.

It seems that the BTC investors are putting their money on the bullish reverse run as the world’s most famous crypto asset is expected to hit its lowest mark in more than three months in May.

Even though many people still call it a contrarian, most traders on Bitfinex were on the right side before the crash of May 19. Just three days ahead of the crash, the short position on the trading platform surged nearly 368 percent. A 77 percent decrease followed it amid the correction phase.

Since Elon Musk’s criticism and growing Chinese clampdown on miners, Bitcoin is struggling to regain its $40K mark. As of today, the most used virtual coin is being traded at $37K – a three percent surge in value. 

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