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Bitcoin Longs on Bitfinex Jump 40% in Three Months as Traders Double Down on Dip
Rising margin bitcoin longs show confidence despite bitcoins ongoing correction.
Updated Nov 24, 2025, 11:21 a.m. Published Nov 24, 2025, 11:21 a.m.
What to know:
- Margin longs on Bitfinex are up 42% in three months while BTC is down 26%, indicating persistent accumulation despite significant market weakness.
- The position has reached the 70,000 BTC level three times since 2024 and each previous occurrence aligned with a major market bottom, adding weight to this latest build up.
Bitcoin has logged six down weeks out of the past seven, falling roughly 35% from $126,500 in October to around $81,000 before slightly recovering to above $85,000.
Throughout this correction, traders on Bitfinex continued to accumulate, lifting the amount of bitcoin bought with borrowed funds to 70,714 BTC. This is up from 50,000 BTC at the start of August.
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According to TradingView data, margin longs have climbed 42% over the past three months while bitcoin has fallen 26%, highlighting continued confidence even as bitcoin is on track for its weakest monthly performance since June 2022.
This marks the third time since September 2024 that the Bitfinex whale has expanded their margin long position to around 70,000 BTC. The previous two instances aligned with major market bottoms.
The first occurred in August 2024 during the yen carry trade unwind when bitcoin fell toward $49,000, followed by a reduction in the position as bitcoin rallied to $100,000 after President Trump won the election in November 2024.
The second occurred in April 2025 during the tariff tantrum when bitcoin dropped to about $76,000, then rebounded toward $120,000 in June as the whale reduced exposure. Over the past five years, the bitfinex whale has also timed key reversals in the 2022 bear market and gradually reduced their long exposure throughout the 2023 rally.
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Bitcoin Treads Water Near $90K as Bitfinex Warns of 'Fragile Setup' to Shocks
BTC's relative weakness compared to stocks points to tepid spot demand, making the largest crypto vulnerable to macro volatility, Bitfinex analysts said.
What to know:
- Bitcoin erased very modest overnight gains early Monday and spent the rest of the U.S. session in a tight range around the $90,000 level.
- Rising long bond yields and a small U.S. equities pulling back weighed on risk appetite as traders eye this week's Federal Reserve meeting.
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