Bitfinex whale BTC long position increased by 6% recently, reaching 48,615 BTC

Over the past few days, Bitfinex whales have seen a 6% increase in BTC long positions, totaling 48,615 BTC. Analysis of Bitfinex whale activity through 2024 shows that on February 10, these whales held over 76,000 BTC, but by the all-time high in March, holdings had fallen to 42,000 BTC. Notably, Bitfinex whales expected BTC to subsequently fall from a peak of around $73,500 to $56,500 on May 1. Bitfinex whale investors have been steadily increasing their holdings since positions fell to a low on April 13. Bitfinex whales have continued to increase their positions as Bitcoin surged from $56,500 to $62,000 in the last two days. Historical trends show that Bitfinex whale activity is often a reliable indicator of price direction. When BTC prices peak, whale long positions tend to bottom out, and these entities take advantage of market declines to increase their positions. As prices rise, whale investors gradually sell off their positions. (CryptoSlate)