Traders on Bitfinex have reduced their leveraged long positions in Bitcoin by over $100 million between April 17 and April 19, raising speculation that whales may expect a price correction or lack confidence in short-term gains. Despite this reduction, Bitcoin surged above $86,000 on April 21 after criticisms directed at Federal Reserve Chair Jerome Powell by former President Donald Trump. This environment of reducing positions comes amid increasing investor cautiousness due to global trade tensions and recession fears. Although there was a decrease of 1,250 BTC in long positions, which now total 79,136 BTC, the overall trend has not shifted to a bearish stance. Historically, Bitcoin's price movements do not always correlate directly with changes in leveraged positions, suggesting that these high-risk traders exhibit patience and market timing. Thus, the reduction of $106 million in margin longs does not necessarily indicate a major shift in sentiment among professional traders.

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