Bitcoin long positions on Bitfinex rose to 80,636 BTC on May 20, the highest level since December 2023.
summary
- Bitfinex margin long positions rose to 80,636 BTC on May 20, up nearly 10% since the start of 2026 despite BTC’s 13% decline in the same period.
- Bitcoin has fallen for five straight trading days, falling from more than $80,000 to nearly $76,000 amid broader market weakness.
- The so-called Bitfinex whale has historically expanded buy positions during weakness and cut them near local market tops.
Bitfinex leveraged traders continued to buy into the Bitcoin selloff, with long margin positions to rise To 80,636 BTC on May 20 according to TradingView data.
This number represents the highest level since December 2023 and represents an increase of approximately 10% since the beginning of 2026. Bitcoin is down 13% year to date even as these long positions rise.
The latest pullback saw Bitcoin fall from over $80,000 to nearly $76,000 over five consecutive losing sessions between May 15 and May 19.
This marks the second-longest losing streak of the year, with the asset attempting its first daily green candle in six days at the time of writing. Bitcoin is now trading about 35% below its October 2025 all-time high of $126,000.
What Bitfinex’s whale data indicates
Historically, the so-called Bitfinex whale has served as a contrarian indicator. Highly leveraged long positions on the stock exchange have repeatedly expanded during market weakness and been reduced near local tops and trend reversals. This pattern does not guarantee a minimum price, but it has attracted the attention of analysts who track the positioning of whales as a leading signal.
Bitcoin is currently approaching a key technical area. The asset is testing the true market average and short-term stand cost basis near $78,000, with 200 day moving average It sits above $81,000. Many traders will view regaining this level as a first step towards a structural recovery.
Why are some traders not convinced that there is a bottom?
Rising margin trades during a sustained decline in prices can also indicate that there is not yet a clear price floor. When leveraged long positions accumulate, the market becomes vulnerable to a series of liquidations if prices continue to fall, amplifying the downward pressure rather than absorbing it.
Crypto.news has tracking Analyst commentary throughout 2026 has consistently pointed to $78,000 to $81,000 as a key recovery area for Bitcoin before a sustained recovery becomes likely.
The difference between high margin exposure and low prices reflects the ongoing confrontation between buyers and sellers. the Bitcoin price The page tracks the movements in real time as this confrontation takes place.
