Bitfinex Whales Sell Off 2,000 BTC in Long Positions

IconCryptoNewsTerminal Staff14 Jun, 2024

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Bitfinex Whales Sell Off 2,000 BTC in Long Positions

Bitfinex whales, or large traders, have unwound 2,000 BTC in long positions over the last day, according to blockchain analytics firm Datamish. The sell-off occurred between 23:35 and 23:41 UTC (06:35 and 06:41 ET) on Feb. 13. As a result, the amount of BTC longs on Bitfinex has decreased to 48,464 BTC. This significant whale activity could potentially have implications for the price of Bitcoin (BTC). Large traders often have a strong influence on market trends, and their actions can cause volatility. The sell-off of such a large number of long positions could indicate that whales are bearish on BTC in the short term. However, it is important to note that this is just one data point, and other factors could also be influencing the price of BTC. Overall, it is too early to say for sure what impact the whale sell-off will have on the market.

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