Bitfinex Bitcoin longs hit highest level since late 2023: Is a rally to $100K possible?

Bitcoin margin longs at Bitfinex exchange reached a two-year high prior to stocks and crypto selling off sharply. Should traders expect a rally or the correction to continue?

Key takeaways:

Bitfinex Bitcoin margin longs hit two-year highs, but arbitrage suggests this isn't a purely bullish price indicator.

Bitcoin price drops as tech stock valuations and gold gains drive investors toward cautious, risk-averse behavior.

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