Bitcoin price will rebound? After a record surge, Bitfinex’s BTC short positions fell by 25%


Bitcoin price will rebound? After a record surge, Bitfinex’s BTC short positions fell by 25%

(Bitcoin) Short positions should be aware of potential blows, as the number of margin short positions on the Bitfinex exchange plummeted by approximately 25%.

As of 12:20 GMT on Saturday, the data set dropped to 11,066 BTC, compared to 14,897 BTC at the opening. At the same time, the decline is part of a larger downtrend that began on July 15. On that day, the total number of margin short positions reached 17,053 BTC.

As part of the general downward correction, BTCUSDSHORTS plummeted on July 17. Source: TradingView
The correlation between recent Bitcoin spot prices and their short margin positions on Bitfinex. Source: TradingView
The inverted cup handle pattern on the Bitcoin chart. Source: TradingView
The net flow of spot transactions is a 2-week moving average.Source: Willy Woo Newsletter