Bitfinex Bitcoin Longs Climb as Traders Bet on Dip
Bitcoin (BTC $92,198.96) has faced six losing weeks out of seven, sliding roughly 35% from its October high of $126,500 to around $81,000 before rebounding slightly above $85,000.
Despite the decline, Bitfinex traders have been steadily accumulating. Margin longs have risen to 70,714 BTC, up from 50,000 BTC in early August. TradingView data shows longs have grown 42% over the past three months, even as bitcoin fell 26%, highlighting continued confidence during the cryptocurrency’s weakest month since June 2022.
This is the third time since September 2024 that the Bitfinex whale has expanded positions to roughly 70,000 BTC, with prior spikes aligning with major market bottoms. The first came in August 2024, when bitcoin fell toward $49,000 during the yen carry trade unwind, then rose to $100,000 after President Trump’s November 2024 election win. The second occurred in April 2025 amid the tariff tantrum, as BTC dropped to about $76,000 before climbing to $120,000 in June.
Over the past five years, the whale has repeatedly timed market reversals, trimming long exposure during rallies and accumulating strategically at key lows.
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