Although the price of #Bitcoin rose by 23.7% in the last 30 days, traders on Bitfinex have reduced their leveraged long positions by more than 18,000 BTC during this time. This wave of profit-taking in the margin markets has led to speculation that professional traders may not be completely confident in the price level of US$104,000.

Bitfinex whales have adopted leveraged long positions now totaling US$6.8 billion, while leveraged short positions amount to only US$25 million, showing a large gap between bullish and bearish positions.