{"id":29599,"date":"2025-05-31T16:01:33","date_gmt":"2025-05-31T16:01:33","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=29599"},"modified":"2025-05-31T16:01:33","modified_gmt":"2025-05-31T16:01:33","slug":"bitcoin-price-to-regain-upward-momentum-these-bitfinex-longs-may-hold-the-answer","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=29599","title":{"rendered":"Bitcoin Price To Regain Upward Momentum? These Bitfinex Longs May Hold The Answer"},"content":{"rendered":"
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The Bitcoin price has witnessed its fair share of corrections in recent days after reaching a new all-time high last week. The premier cryptocurrency\u2019s latest performance reflects what seems to be an exhaustion of bullish strength, as the general market fell under some downward pressure in May\u2019s final week.<\/p>\n

With the ongoing battle between the bulls and bears, there is no clear-cut way to tell what\u2019s next for the Bitcoin<\/a> price. However, a recent on-chain observation shows increased bullish activity on a popular centralized exchange, which could offer insight into the short-term movement of the market leader.<\/p>\n

\u2018Decreased Bitfinex Longs May Be Good For BTC\u2019s Momentum\u2019 \u2014 Alphractal<\/b><\/h2>\n

In a May 30 post on social media platform X, crypto analytics firm Alphractal delved<\/a> into the relationship between leveraged long positions on crypto exchange Bitfinex and the Bitcoin price direction. This analysis is based on the Bitfinex Long Vs. Short Position metric, which estimates the ratio of buys against the sells of a cryptocurrency (BTC, in this case).\u00a0<\/p>\n

According to Alphractal, the relationship between BTC\u2019s price trajectory and the leveraged long positions on Bitfinex is inversely proportional. This means that if there are more long positions on the crypto trading platform, the likelihood of a price drop<\/a> increases. Meanwhile, a decrease in long positions on the exchange could be bullish for the Bitcoin price.<\/p>\n

The analytics firm attributed this pattern to the propensity of traders to be wrong about the market\u2019s actual trajectory. According to Alpractal, these wrong price predictions eventually lead to liquidations and forced position closures, which drive the BTC\u2019s price in the opposite direction.\u00a0<\/p>\n

\"Bitcoin<\/p>\n

In the recent post on X, Alphractal pointed out that the Bitfinex Long Position is declining, and if this trend is sustained, the premier cryptocurrency could resume its upward run<\/a>. On the flip side, if the metric were to ascend above its current level, the Bitcoin price could be preparing for a severe pullback.\u00a0<\/p>\n

Bitcoin Price At A Glance\u00a0<\/b><\/h2>\n

As of press time, Bitcoin trades just above $104,100, reflecting a more than 2% decline in the past 24 hours. The flagship cryptocurrency\u2019s performance is even more disappointing on the weekly timeframe, having lost over 4% of its value in the past seven days.<\/p>\n

\"Bitcoin<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Bitcoin price has witnessed its fair share of corrections in recent days after reaching a new all-time high last week. The premier cryptocurrency\u2019s latest performance reflects what seems to be an exhaustion of bullish strength, as the general market fell under some downward pressure in May\u2019s final week. With the ongoing battle between the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-29599","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/29599","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29599"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/29599\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}