Despite Bitcoin dump, Bitcoin long positions hit new highs.

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Bitcoin, has been Bearish for the past couple of weeks while many traders got liquidated due to the Dump in Bitcoin Price. Currently, Bitcoin is Trading at $27,600 down 3% Meanwhile, Ethereum has dumped more than Bitcoin.

Bitfinex Bitcoin Longs – New All time Highs

Cryptonks previously Reported when Bitcoin Longs on Bitfinex Sky rocketed back in May. So Far, Longs on Bitfinex are continuing to Hit new Highs despite the Dump.

Ethereum Long Positions on Bitfinex

Traders on Bitfinex Shows Confidence in Ethereum Despite the Dump but Not as Much as Bitcoin. Ethereum Merge is coming up In just few Months which will Be transition to ‘Proof of Stake’.

Despite all-time highs on Bitfinex Long Positions, Bitcoin has dropped more than 10% in the previous few days, demonstrating that relying on this factor for trading is not all that useful.