Bitcoin (BTC) price has risen 8% from its March 11 low of $76,703, driven in part by large investors aggressively buying the dip with leverage.
Margin longs on Bitfinex surged to their highest level since November 2024, adding 13,787 BTC over 17 days. Currently standing at $5.7 billion, this bullish leveraged positioning signals confidence in Bitcoin’s upside potential despite recent price weakness.
Bitcoin/USD (orange, left) vs. Bitfinex BTC margin longs (right). Source: TradingView / Cointelegraph
Some analysts argue that Bitcoin’s price is closely linked to the global monetary base, meaning it tends to rise as central banks inject liquidity.
With recession risks mounting, the likelihood of expansionary monetary policies increasing the money supply grows. If this correlation holds, Bitfinex whales could be well-positioned to capitalize on a rally above $105,000 in the next two months.
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For instance,