Traders Double Down on Bitcoin Dip, Sending Longs on Bitfinex Up 40% in Three Months

Bitfinex Traders Ramp Up Bitcoin Longs Amid Sharp Price Drop

Bitcoin (BTC $92,198.96) has experienced six losing weeks out of the past seven, falling roughly 35% from its October high of $126,500 to around $81,000, before recovering slightly above $85,000.

Despite the decline, traders on Bitfinex have been steadily increasing their margin positions. The total bitcoin held in long positions has risen to 70,714 BTC, up from 50,000 BTC at the start of August. TradingView data shows that margin longs have climbed 42% over the past three months, even as bitcoin has fallen 26%, reflecting sustained trader confidence during what is shaping up to be the cryptocurrency’s weakest monthly performance since June 2022.

This is the third time since September 2024 that the Bitfinex whale has expanded their margin long positions to roughly 70,000 BTC, with previous spikes coinciding with major market lows.

The first occurred in August 2024 during the yen carry trade unwind, when bitcoin dropped toward $49,000, followed by a reduction in exposure as BTC rallied to $100,000 after President Trump’s November 2024 election victory.

The second spike came in April 2025, amid the tariff tantrum, when bitcoin fell to around $76,000 before rebounding toward $120,000 in June as the whale trimmed their position.

Over the past five years, the Bitfinex whale has consistently timed key market reversals, including the 2022 bear market, and gradually reduced long exposure throughout the 2023 rally, demonstrating a pattern of strategic accumulation aligned with major price cycles.