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One chart to understand: What is smart money doing when the market is most fearful? CoinDesk's latest data shows that during this pullback, traders on Bitfinex are frantically leveraging to buy BTC: The Bitcoin purchased through borrowing surged from 50,000 in August to 70,700. Margin long positions skyrocketed by 42% over three months. The background is that the market is heading towards its weakest monthly performance since June 2022. This data seems a bit counterintuitive, but upon further thought, it makes sense.

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