Bitcoin Longs Cut $ 106m – Are Bitfinek BTC Whales Switching Bearing Above 86K?

In spite of Bitcoin’s (Btc) The price reaches its the highest level for more than three weeksTraders at Bitfine Rump their positions long (bakara) at margin agreements for more than 100 million dollars between 17. April and 19. April.

This reduction has led to speculation that bitcoin whales can predict price correction or at least, not only reliable below. Let’s look closer if that could be the case.

Bitfinek Bitcoin whales remain Bullish

Bitcoin is from 21. April rose $ 86,000 after the US President Donald Trump spoke openly Possibility to replace the Jerome Powell Federal Reserve. Trump criticized Powell, which is not acting fast enough to facilitate monetary policy.

In addition, investors are increasingly risky due to concern about recession, because the global trade war escalates, especially given during insecurity in US-China relations.

The explanation of this profit in the margin markets is especially noticeable, because the price of Bitcoin remained below $ 90,000, which has led to a sustainable sustainable separation issue from the start of the investor Traditional markets.

Futures S & P 500 Futures traded 1.1% below their final price 17. April, and growing political tensions in the United States further erodes the sense of investors.

Margin Bitcoin Giver G Bitfinek stood flat at 80,400 BTC between 10. April and 17. April, indicating a strong trust of the bikar merchant as this level closered the seventh month. However, although the price of the BTC attracted a level of $ 83,000, these traders decided to reduce their bilk positions with 1,250 BTC, equivalent to $ 106 million.

Historically, Bitfinek traders are known for rapid opening or closure of significant positions margins Bitcoin, indicating that whales and large arbitration tables are usually behind these movements.

However, it is not correct to suggest that Bitfinek whales were transferred to the bear position, given their margins, a total of 79,136 BTC, worth 6.86 billion dollars, while Breather margin is only 326 BTC.

Related: Bitcoin whales absorb 300% new-mined BTC offer – is the next $ 100,000?

The significant difference between bicatic and bear positions can be attributed to the platform, especially low 2% annual interest rates. Compared, traders who use two-month BTC futures currently pay 5.7% annual premium.

This disparitation creates Possibilities for arbitrationAs can be opened by Bitcoin longing in the margin market and at the same time sell an equivalent position on BTC futures to catch the difference.

BTC often doesn’t move with Bitfinek changes

In addition, the bitcoin price is not always directly directly with changes in positions on Bitfineks. For example, in two weeks in the amount of 10. Marta, whales increased their margins long for 13,454 BTC, and at the same time Bitcoin’s price refused from 95,930 to $ 67,076 in the same period.

Similarly, the margins decreased by 11,047 BTC in two weeks ended 16. December 2024. Year, while the bitcoin price rose from $ 96,200 to $ 106,400.

However, these sophisticated investors showed strong market time during a long term. For example, the price of Bitcoina eventually fell under $ 58,000 December 23. December 2024. years, after the diversa with margin-long already decreased by 26% in the previous 30 days.

This form suggests that these traders are mostly very profitable, but also depict significantly higher risk tolerance and patience compared to the average investor.

Finally, a reduction of $ 106 million long margins of BTC is not enough evidence to claim that professional traders turn the bear.

As cointelegraph exportOrchain data suggest that Bitcoin whales increased in number throughout March and April, despite the decline in price, proposing accumulation.

This article is for general information on the need and should not be taken as legal or investment advice. The views, thoughts and opinions are presented here, the author itself is not necessarily reflected or represent the views and opinions of the cointelegraph.