Those who have followed financial markets for some time may have heard of opposite indicators. These metric are often misleading at first glance: some seem positive, but tend to indicate a descending trend of the market, while others that seem negative to the brand’s price.
One of those opposite indicators are Bitcoin’s desires leveraged in the exchange of Bitfinex crypto. Historically, the number of lengths leveraged in the exchange has tended to slide during bull races and rise during the bearish trends.
At the time of writing, the number of long BTCUSD in Bitfinex had fallen to 47,691, the lowest since December, offering bitcoin binding signs, according to Data Source TradingView. The long account reached its maximum point in the first half of April and has been decreasing since then, characterizing the rapid recovery of BTC of around $ 75K to record maximums of more than $ 110K.
“When Bitfinex Long Bitfinex increases, the price tends to fall. When long positions fall, the price generally increases,” said cryptofractal analysis firm in X.
When explaining the enigma, Alphractal said merchants are usually wrong about the market management. That leads to forced or discretionary settlements, which drive the price in the opposite direction.
“While long Bitfinex positions continue to fall, Bitcoin will continue to increase,” said João Wedson, CEO of Alphractal.
The picture shows the opposite nature of the BTCUSD yearns in Bitfinex.
Since 2021, each important BTC rally, including those seen in November-December of last year and the last of the minimums of early April, has coincided with the slide in BTCUSD yearning for the exchange.
On the other hand, the BTC bearish trends, including the 2022 accident and the decrease of $ 100K to $ 75K earlier this year, occurred when the long BTC/USD increased.
