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.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
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.