$80 Million Bitcoin Longs Closed, Manipulation?

bitcoin longs june 29 2020

Some 9,000 bitcoins that were betting long have closed their position this month as can be seen above. June opened with about 31,000 btc betting price was to rise, but close to a third of it was sold off in the meantime, leaving just 22,000 btc. As you know going long means you’re buying bitcoin, and then once you close you’re basically selling the coins. On Bitfinex this buying and selling this year has been a bit too uniform as can be seen in the featured image above. We think Bitfinex publishes their data a few days behind, but you can still roughly see the big M in the featured chart, and then all those little Ms more recently. The big M makes the little ones look like there’s no movement, but longs are fluctuating by some $100 million and that perhaps translates to the $1,000 price movement that can…

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