Despite Bitcoin's five-day losing streak from May 15 to 19, Bitfinex's Bitcoin margin longs surged to 80,636 BTC, marking the highest level since December 2023. This represents an increase of approximately 1.5% over the past few days and a 10% rise since the start of the year. Meanwhile, Bitcoin has declined 13% this year, falling from over $80,000 to around $76,000. Currently, Bitcoin is testing the True Market Mean and short-term holder realized price near $78,000, with the 200-day moving average positioned above $81,000.
Bitfinex Bitcoin Margin Longs Hit Highest Level Since December 2023
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