{"id":408158,"date":"2019-12-20T18:00:17","date_gmt":"2019-12-20T18:00:17","guid":{"rendered":"https:\/\/wncen.com\/?p=408158"},"modified":"2019-12-20T18:10:45","modified_gmt":"2019-12-20T18:10:45","slug":"bitfinex-longs-dominate-shorts-but-is-this-bullish-or-bearish-for-bitcoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitfinex-longs-dominate-shorts-but-is-this-bullish-or-bearish-for-bitcoin\/","title":{"rendered":"Bitfinex Longs Dominate Shorts, But Is This Bullish or Bearish For Bitcoin?"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">The cryptocurrency exchange known as <a href=\"\/tag\/bitfinex\/\" rel=\"nofollow\">Bitfinex<\/a> is often the playground chosen for many whale traders, who take up large positions in Bitcoin and other cryptocurrencies using leverage to amplify their returns.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Typically, the ratio between longs and shorts is somewhat similar, with a slight edge going to longs due to how overly bullish crypto investors tend to be. However, the balance between the two types of traders has spiked in one direction, causing longs to completely dominate shorts on the platform. But what exactly does this mean for <a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a>, and is this bullish or bearish?<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Longs and Shorts Reach 90\/10 Ratio on Crypto Exchange<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">In a first for the cryptocurrency market, the ratio of longs and shorts on cryptocurrency margin trading platform <a href=\"\/tag\/bitfinex\/\" rel=\"nofollow\">Bitfinex<\/a> have jumped to dominate 90% of the open positions on the exchange.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The ratio typically leans slightly toward longs but hasn\u2019t reached these sort of extremes in the past.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Much of the long positions were taken by a lone crypto whale, who before yesterday morning\u2019s rally and $1,000 surge, was <a href=\"https:\/\/wncen.com\/2019\/12\/18\/bitfinex-bitcoin-whale-currently-underwater-by-nearly-25-million\/\">underwater by as much as $25 million<\/a> as Bitcoin price had fallen down to $6,450 before rebounding.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The whale is still down over $10 million at current prices, but considering how stacked long positions are on the platform, the whale and many other traders are fully expecting <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> price to go up in the near term.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Can shorts go to zero? <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#bitcoin<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24btcusd&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$btcusd<\/a> <a href=\"https:\/\/t.co\/sczJyTPLFf\" rel=\"nofollow\">pic.twitter.com\/sczJyTPLFf<\/a><\/p>\n<p>&mdash; CryptoHamster (@CryptoHamsterIO) <a href=\"https:\/\/twitter.com\/CryptoHamsterIO\/status\/56936448?ref_src=twsrc%5Etfw\" rel=\"nofollow\">December 20, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>But Is This Phenomenon Bullish or Bearish for Bitcoin?<\/h2>\n<p class=\"p1\"><span class=\"s1\">Some analysts conclude that the metric is meaningless, and <a href=\"\/tag\/bitfinex\/\" rel=\"nofollow\">Bitfinex<\/a> doesn\u2019t move the market the same way BitMEX does, or that because Bifinex uses low leverage, <a href=\"https:\/\/leaderboard.bitfinex.com\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">these traders<\/a> are less at risk of a squeeze of any type or liquidation.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/12\/18\/bitfinex-bitcoin-whale-currently-underwater-by-nearly-25-million\/\">Bitfinex Bitcoin Whale Currently Underwater By Nearly $25 Million\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">However, there\u2019s no denying that when market sentiment reaches an extreme, like the metric suggests, the market makes a contrarian move, causing maximum pain. The abundance of longs could suggest that traders would be underprepared and unsuspecting of a powerful move lower, which could cause a cascade of stops being hit, and a sizable long squeeze.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Or, the spike in the metric could be among the most bullish signals yet that <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a>\u2019s next bull market is close, as traders on the platform feel the asset has reached a low enough price point, where they\u2019re not concerned that the price will drop so significantly that it would result in liquidation or being forced to close out at a loss.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-408160\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/2019-12-20-11.24.52.jpg?resize=860%2C443\" alt=\"\" width=\"860\" height=\"443\"><\/p>\n<p class=\"p1\"><span class=\"s1\">Indicators on the BTCUSDLONGS chart are suggesting that a massive pullback in long positions is far overdue, and will soon be closing. But longs only close when they\u2019re at risk of further loss, or if they\u2019re already sitting in much profit. We\u2019ll soon find out the answer to what causes these longs to close, if at all, or if they\u2019re held all along Bitcoin\u2019s next bull run.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency exchange known as Bitfinex is often the playground chosen for many whale traders, who take up large positions in Bitcoin and other cryptocurrencies using leverage to amplify their returns. Typically, the ratio between longs and shorts is somewhat similar, with a slight edge going to longs due to how overly bullish crypto investors tend to be. However, the balance between the two types of traders has spiked in one direction, causing longs to completely dominate shorts on the platform. But what exactly does this mean for Bitcoin price, and is this bullish or bearish? Longs and Shorts Reach 90\/10 Ratio on Crypto Exchange In a first for the cryptocurrency market, the ratio of longs and shorts on cryptocurrency margin trading platform Bitfinex have jumped to dominate 90% of the open positions on the exchange. The ratio typically leans slightly toward longs but hasn\u2019t reached these sort of extremes in the past. Much of the long positions were taken by a lone crypto whale, who before yesterday morning\u2019s rally and $1,000 surge, was underwater by as much as $25 million as Bitcoin price had fallen down to $6,450 before rebounding. The whale is still down over $10 million at current prices, but considering how stacked long positions are on the platform, the whale and many other traders are fully expecting Bitcoin price to go up in the near term. Can shorts go to zero? $BTC #bitcoin $btcusd pic.twitter.com\/sczJyTPLFf &mdash; CryptoHamster (@CryptoHamsterIO) December 20, 2019 But Is This Phenomenon Bullish or Bearish for Bitcoin? Some analysts conclude that the metric is meaningless, and Bitfinex doesn\u2019t move the market the same way BitMEX does, or that because Bifinex uses low leverage, these traders are less at risk of a squeeze of any type or liquidation. Related Reading | Bitfinex Bitcoin Whale Currently Underwater By Nearly $25 Million\u00a0 However, there\u2019s no denying that when market sentiment reaches an extreme, like the metric suggests, the market makes a contrarian move, causing maximum pain. The abundance of longs could suggest that traders would be underprepared and unsuspecting of a powerful move lower, which could cause a cascade of stops being hit, and a sizable long squeeze. Or, the spike in the metric could be among the most bullish signals yet that Bitcoin\u2019s next bull market is close, as traders on the platform feel the asset has reached a low enough price point, where they\u2019re not concerned that the price will drop so significantly that it would result in liquidation or being forced to close out at a loss. Indicators on the BTCUSDLONGS chart are suggesting that a massive pullback in long positions is far overdue, and will soon be closing. But longs only close when they\u2019re at risk of further loss, or if they\u2019re already sitting in much profit. We\u2019ll soon find out the answer to what causes these longs to close, if at all, or if they\u2019re held all along Bitcoin\u2019s next bull run.<\/p>\n","protected":false},"author":517,"featured_media":408162,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,925,6664,64059,16083,14896],"class_list":["post-408158","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitfinex","tag-crypto","tag-longs","tag-shorts","tag-whale"],"acf":[],"yoast_head":"\n<title>Bitfinex Longs Dominate Shorts, But Is This Bullish or Bearish For Bitcoin?<\/title>\n<meta name=\"description\" content=\"The cryptocurrency exchange known as Bitfinex is often the playground chosen for many whale traders, who take up large positions in Bitcoin and other\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/bitfinex-longs-dominate-shorts-but-is-this-bullish-or-bearish-for-bitcoin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitfinex Longs Dominate Shorts, But Is This Bullish or Bearish For Bitcoin?\" \/>\n<meta property=\"og:description\" content=\"The cryptocurrency exchange known as Bitfinex is often the playground chosen for many whale traders, who take up large positions in Bitcoin and other\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/bitfinex-longs-dominate-shorts-but-is-this-bullish-or-bearish-for-bitcoin\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-12-20T18:00:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-12-20T18:10:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/bitcoin-bitfinex-longs-shorts-dominate-shutterstock_1573670689.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. 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