Bitfinex Bitcoin Longs Surge as Traders Double Down Amid Price Slump
Bitcoin (BTC $92,198.96) has endured six losing weeks out of seven, dropping roughly 35% from its October high of $126,500 to around $81,000 before recovering slightly above $85,000.
Despite the pullback, traders on Bitfinex have been steadily increasing long positions. Margin longs now total 70,714 BTC, up from 50,000 BTC in early August. TradingView data shows that margin longs have grown 42% over the past three months while bitcoin has fallen 26%, indicating sustained confidence during what is shaping up to be its weakest monthly performance since June 2022.
This marks the third time since September 2024 that the Bitfinex whale has expanded long positions to around 70,000 BTC, with prior spikes coinciding with major market bottoms. The first occurred in August 2024, during the yen carry trade unwind, when bitcoin dipped toward $49,000 before rebounding to $100,000 following President Trump’s November 2024 election victory. The second was in April 2025, amid the tariff tantrum, as BTC fell to about $76,000 before climbing to $120,000 in June.
Over the past five years, the Bitfinex whale has consistently timed key reversals, strategically trimming long exposure during rallies and accumulating at critical market lows.
