This data in Bitfinex is on the top of the last three months! Bull signal for Bitcoin (BTC)?

Bitcoin (BTC) ve altcoinWhile the s for a certain period of time, the situation began to become boring for investors. However, Bitfinex said that they expect the rally to continue in Bitcoin based on a data.

At this point, analysts said that the leveled long (bull) positions in Bitcoin reached 5.1 billion dollars, ie 54,595 BTC, to the highest level of the last three months.

Bitfinex Analysts said that this sharp increase in long positions led to speculation that the whales are preparing for the bull rally.

Analysts said that one of the main reasons for this increase is a annual low borrowing cost of 0.44 %.

“Whatever the reason behind these long positions, the markets are currently a strong tendency towards bull Bitcoin bets.

The increase in Bitfinex Bitcoin leveraged Long operations reflects the arbitrage operations that have little effect on the market. Nevertheless, low borrowing rates offer investors the chance to use leverage.

However, investors are currently concerned about macroeconomic conditions, which makes Bitcoin more difficult to remain above the existing 96,000 level. ”

While this sharp increase in Bitfinex arouses great excitement in the crypto community, it is also discussed whether this is a sign of the rise tendency or a strategic movement. Due to the volatility in the Bitcoin and the crypto market, some experts may be taken as a means of protection against potential downward risks.

*It is not an investment advice.