Bitfinex’s Giant Whales Close 12,000 BTC Long Positions in Biggest Move Since June 2021
According to the latest data from datamish, Bitfinex’s giant whales have unexpectedly closed their long positions in Bitcoin (BTC) worth about 12,000 BTC. This is the largest such move by the exchange since June of last year.
The sudden closure of the long positions by the whales at Bitfinex has attracted the attention of traders and investors in the crypto community. The cost of this position in BTC terms is estimated to be in the range of $25,000 to $35,000, which is a significant amount for any investor.
This move has raised questions about the potential reasons for such a sudden closure of positions by the whales at Bitfinex. While there is no concrete information available on this as of yet, some analysts speculate that it may be a sign of a potential correction in the Bitcoin market or a shift in market sentiment.
Despite the closure of these long positions, Bitfinex still has 93,448 BTC long positions, indicating that the exchange remains bullish on the long-term prospects of Bitcoin. Additionally, the short positions on Bitfinex are at a low level that has not been seen in nearly a year.
This news has sent ripples across the crypto market, with traders and investors keeping a close eye on the movement of BTC prices. The closure of the long positions by Bitfinex’s giant whales is a significant event that has the potential to impact the overall market sentiment towards Bitcoin.
It remains to be seen how this move will impact the price of Bitcoin in the short term. However, it is clear that the crypto market is closely monitoring this development, and further analysis and insights are expected to emerge in the coming days.
The sudden closure of long positions by Bitfinex’s giant whales highlights the importance of monitoring market trends and movements closely. As the crypto market continues to evolve, investors and traders need to stay vigilant and be prepared to adapt to changes in market sentiment and behavior.
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