Bitfinex whale long positions have significantly declined from their late-2025 peak of approximately 73,000 BTC, according to recent on-chain data. Historically, such reductions in leveraged positions by 'smart money' have marked major bottoms for Bitcoin, often preceding substantial rallies. Current Bitcoin prices are hovering between $90,500 and $91,000, maintaining support above $88,000, suggesting a potential completion of a shakeout phase. Analysts note that similar past unwinds have led to 35% or more rallies in the weeks following, with the current sentiment split between bulls and bears. Bulls view this as a bottom marker, citing historical precedents like the early 2025 rally to over $112,000, while bears remain cautious due to thin volume and the possibility of hedging or rebalancing by different whales. Despite this, the consensus leans bullish, with targets of $135,000+ if the pattern repeats.