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Bullish: Bitcoin longs on the BTC exchange Bitfinex reach new record levels

Bullish: Bitcoin longs on the BTC exchange Bitfinex reach new record levels


Bitfinex decouples from the rest of the market with its shorts versus longs. Now the stock exchange has reached a new all-time high in Bitcoin longs.

Short versus long positions are largely evenly distributed on most stock exchanges, and market sentiment remains poor. BitMEX and Binance both publish more shorts than longways by a small margin. Bitfinex traders trade differently for some reason.

Bitfinex currently has a record number of long positions in BitcoinThe ratio of long to short at the time of writing is a staggering 87 percent to 13 percent. Because this is so different from other exchanges, the situation is causing many analysts in the crypto world to worry.

According to a user, it can only be one thing: a classic case of market manipulation.

At the beginning of the year, Bitfinex’s longs and shorts were separated from the rest of the market – which led to a major market movement shortly afterwards.

It is said that these were only falsified numbers in order to “scare people who don’t want to buy”.

Others point to Bitfinex’s dwindling relevance this year. The trading volume of the stock exchange has decreased and margin trading has less and less impact on the market.

However, the sheer number of longs on Bitfinex was enough to increase the total number of longs on all exchanges. If they close before a big market move, it would be a clear confirmation that market manipulation is in progress.

Based on real trading volume metrics, Bitfinex has a daily trading volume of around $ 27 million. It remains the fifth largest stock exchange and still has a significant impact on the market – despite claims to the contrary – that the rise in long positions may be a sign of a major market move.

It remains to be seen whether Bitcoin will end the year strongly. However, the troubled market does not raise high hopes in this regard.

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