Bitfinex Bitcoin Longs Surge as Traders Double Down Amid Price Drop
Bitcoin (BTC $92,198.96) has struggled through six losing weeks out of the past seven, dropping roughly 35% from its October peak of $126,500 to around $81,000 before recovering slightly above $85,000.
Despite the decline, traders on Bitfinex have been steadily adding to long positions. Total bitcoin held in margin longs has risen to 70,714 BTC, up from 50,000 BTC at the start of August. According to TradingView, margin longs have increased 42% over the past three months while bitcoin has fallen 26%, reflecting strong trader confidence during what is shaping up to be its weakest monthly performance since June 2022.
This marks the third instance since September 2024 that the Bitfinex whale has expanded long positions to roughly 70,000 BTC, with previous surges coinciding with major market bottoms.
The first was 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 win. The second occurred in April 2025, amid the tariff tantrum, when BTC fell to around $76,000 before climbing to $120,000 by June as the whale reduced exposure.
Over the past five years, the Bitfinex whale has repeatedly timed key reversals, including during the 2022 bear market, strategically trimming long exposure throughout the 2023 rally.
