Bitfinex Margin Longs Hit 2.5-Year High as Bitcoin Approaches Key Resistance Level
Source：
www.coindesk.com
According to CoinDesk, Bitcoin margin long positions on Bitfinex have risen to 80,636 BTC—the highest level since December 2023 and the highest in 2.5 years. Despite Bitcoin’s year-to-date decline of 13% and five consecutive days of losses from May 15 to May 19, leveraged traders have increased their long positions by approximately 1.5% over the past few days. Data shows that Bitfinex margin longs have risen roughly 10% since the start of the year, while Bitcoin’s price has pulled back from above $80,000 to around $76,000 and is now testing a key resistance level near $78,000; the 200-day moving average sits above $81,000.
