Bitcoin bullish bets hit a 28-month high on Bitfinex, and that's music to bears' ears

Historically, spikes in Bitfinex BTC/USD longs have acted as a contrary indicator. What to know : Bullish bitcoin long positions on Bitfinex have climbed to 79,343, the highest level since November 2023. Historically, spikes in Bitfinex BTC/USD longs have acted as a contrary indicator, often coinciding with price tops and preceding sell-offs. The latest surge in longs, combined with macro factors, point to a growing risk that bitcoin’s bear market could deepen.