BlockBeats News, March 30th, the number of long Bitcoin positions on Bitfinex has risen to about 79,343 contracts, hitting a new high since November 2023. Analysis indicates that although an increase in long positions is usually seen as a bullish signal, historical data shows that this indicator often has an inverse relationship with price trends, with a concentration of long positions often appearing at interim price highs or before a decline. The analysis suggests that the current growth in long positions, combined with macroeconomic uncertainties, may imply a downside risk to Bitcoin’s current range-bound trading between $65,000 and $75,000. (CoinDesk)
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