Whale Watching: Bitcoin Longs Near All-Time Highs

The transparency provided by the blockchain shows fundamental analysts when whales upload Bitcoin, but cannot tell when specs go bad. However, whale behavior may still be key to understanding price action. Right now, whales have amassed one of the largest collective long positions ever on long-running crypto exchange Bitfinex. Historical data shows these signals are rarely inaccurate, and looking at whales' positions can help tell when the tide will change. Bitfinex Bitcoin Whales Take So Long, But Are They Mostly True? In finance, a whale is a market participant that trades with enough size and capital to make a big jump in price action. It was these whales who sold the top of the last Bitcoin price rally while the rest of the market was still bullish. And it's also these whales that are currently in the top cryptocurrency for a long time. Related literature | The most profitable signal in Bitcoin is back and to activate Some crypto trading platforms offer advanced products such as derivatives, leverage or long and short positions. Instead of trading, traders can go short to hedge spot positions, or try to add long positions on every drop – the strategy is almost endless. Traders on the leading trading platform Bitfinex are overwhelmingly long – almost always high long positions on the platform known for whales. Bitfinex Whales Have Been Wrong Only Once In Years | Source: BTCUSDLONGS on TradingView.com Bitfinex is home to many whales, the most famous being Joe007, these whales were notorious for craving $6,500 BTC in 2019, but the coin was short-circuited at the end of 2020. The positions these whales take can be very important. developed charts to display both long and short in the stock market. With the statistic close to all-time highs, it's clear that whales are waiting for the Bitcoin price to rise. But will they be right? Looking back, every time long positions hit the green box above, Bitco

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