See More

Bitfinex Bitcoin Longs Are Now at Record-Breaking Levels

2 mins
Updated by Adam James
Join our Trading Community on Telegram
Bitfinex is decoupling from the rest of the market in its shorts versus longs. The exchange has hit a new all-time high in Bitcoin longs.
Shorts versus longs are largely split across most exchanges as market sentiment remains poor. BitMEX and Binance are both posting more shorts than longs by a small margin. However, Bitfinex traders are, for some reason, acting differently. Currently, Bitfinex is posting a record amount of Bitcoin longs. Its long-to-short ratio is a stunning 87 percent to 13 percent at the time of writing. Given that this is so unlike other exchanges, the situation has left many analysts in the cryptocurrency world scratching their heads. According to one user, it may just be a classic case of market manipulation. Earlier this year, Bitfinex’s longs and shorts were also disjointed from the rest of the market — which led to a major market move shortly thereafter. https://twitter.com/YORK780/status/1205210868314755072 There have been claims that these are merely fake numbers to “scare people not to buy.” Others point to the fading relevance of Bitfinex this year. The exchange’s trading volume has fallen and its margin trading is affecting the market less and less. Still, however, the sheer amount of longs on Bitfinex has been enough to tip the total scale of longs across all exchanges. If these longs close before a major market movement, this would be a clear confirmation that market manipulation is afoot. bitfinex Tether Based on real trading volume metrics, Bitfinex has a daily trading volume of around $27M. This still makes it the fifth-largest exchange by trading volume. Bitfinex, therefore, still has considerable sway on the market — despite claims to the contrary, so this increase in longs is possibly a sign of a major market movement coming. It remains to be seen whether Bitcoin will end the year strong, but there’s room for worry in this choppy market.
Top crypto projects in the US | July 2024
Harambe AI Harambe AI Explore
Uphold Uphold Explore
Exodus Exodus Explore
Coinbase Coinbase Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | July 2024
Harambe AI Harambe AI Explore
Uphold Uphold Explore
Exodus Exodus Explore
Coinbase Coinbase Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | July 2024

Trusted

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

photo_Anton_circle.jpg
Anton Lucian
Raised in the U.S, Lucian graduated with a BA in economic history. An accomplished freelance journalist, he specializes in writing about the cryptocurrency space and the digital '4th industrial revolution' we find ourselves in.
READ FULL BIO
Sponsored
Sponsored