On Bitfinex, Bitcoin margin longs have decreased by 18% to $6.8 billion, while shorts remain at a mere $25 million. Despite Bitcoin's 24% price increase over the past month, traders have reduced their leveraged positions, hinting at profit-taking rather than a bearish trend. The reduction follows a peak in margin longs just before Bitcoin's price surpassed $100,000. Notably, the options market shows a -6% delta skew, indicating bullish sentiment among traders. Institutional interest remains strong, evidenced by increased flows into Bitcoin ETFs. While margin longs have declined, the overall position reflects optimism, as professional investors maintain significant bullish positions, indicating a possible readiness for another rally despite resistance at $105,000.

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