LONGS on BITFINEX going PARABOLIC

[fillippone]

LONGS position are building to an unprecedented level on BITFINEX:



https://www.tradingview.com/chart/?symbol=BITFINEX%3ABTCUSDLONGS

This is an unprecented balance.
It has been constantly increasing since a month, more or less.

What is happening? It doesn't appear correlated to BTCUSD price.
It started with BAKKT launch: maybe there is a reason for this?
Really weird.

I am trying to figure out, I will let you knwo if I discover anything.

[mindrust]

I think people are piling up on the cheap btc. Am I wrong?

Isn't this practically the same thing as buying the fucking dip?

The question is, do the bears have enough ammo to blow up the long johns?

If not, it will be helluva bear steak party.

[VB1001]

It is possible that on that date they believed that the bottom was there and the longs began to climb.

[fillippone]

I think people are piling up on the cheap btc. Am I wrong?

Isn't this practically the same thing as buying the fucking dip?

The question is, do the bears have enough ammo to blow up the long johns?

If not, it will be helluva bear steak party.

Yes, you are basically right: getting long on the future means getting (leveraged) long on Bitcoin.
But the increase is too violent and constant to be only price related.
The long amount is well above historical standard , while price is well above lowest levels since this year. In addition to that the LONG amount has beeen steadily increasing, even when price was humming around price resistance (before the last dip).
This is to answer also to VB1001.

So must be (also) something else.

Whale dumping BTC cash while building leveraged long positions on futures?
Surely mantaining this long position is costly: being underwater on those longs future positions is costing the holder of such positions a huge loads of margins, to be posted to keem them open.
So big swinging dick position.
 

[estenity]

.................

Whale dumping BTC cash while building leveraged long positions on futures?

this paper today on zerohedge:

https://www.zerohedge.com/crypto/chinese-crypto-scammers-helped-inspire-recent-bitcoin-market-carnage

[fillippone]

.................

Whale dumping BTC cash while building leveraged long positions on futures?

this paper today on zerohedge:

https://www.zerohedge.com/crypto/chinese-crypto-scammers-helped-inspire-recent-bitcoin-market-carnage

Ok, they dumped litttle bit more than 50% of their holdings. Someone with big pocket is waiting for a snap back when this sellling pressure will abide.

Risky.

[Last of the V8s]

[bkbirge]

Frontloading the halving? The kinds of guys that play the futures market surely look longer ahead than the retail guys?

[mindrust]

Frontloading the halving? The kinds of guys that play the futures market surely look longer ahead than the retail guys?

Possibly but we going down right now it looks like some other whale is trying to bust that guy who has been longing.

If he gets liquidated it will be ugly. Otherwise, moontime.

[2double0]

Frontloading the halving? The kinds of guys that play the futures market surely look longer ahead than the retail guys?

Possibly but we going down right now it looks like some other whale is trying to bust that guy who has been longing.

If he gets liquidated it will be ugly. Otherwise, moontime.

I don't think this could be a guy alone but lots of people are involved in these longs. It is quite good for the longs' charts to be in green after a long time of see-saw games that were being played by traders. I wish BTC the best of our luck and want it to see going 'to da moon'. Yeah com'on peeps, that's one more good reason to celebrate the 'to da moon' talks, where are my fellowmen?  

[fillippone]

The size is definetly not in the realm of the possibility of a single guy, yet the coordination of whales on such extreme levels of exposure still puzzles me.

[El duderino_]

Time will tell, popcorn is being served as we speak.

[Last of the V8s]

ferfuxxake people, joe's the whale. it's nothing really
https://twitter.com/J0E007/status/1206916325727186950?s=20

[Last of the V8s]

https://leaderboard.bitfinex.com/vol:1w:tGLOBAL:USD

[fillippone]

I didn’t know him. Thanks, so enjoyable reads!

[Plutosky]

LONGS position are building to an unprecedented level on BITFINEX:

.....

It looks pretty weird to me as well.

On the one hand Bitfinex volume has been falling over last years and this  boom of longs is occurring only there. I think Bitfinex volume alone can not push price up (or down) if other big exchanges disagree about the direction.

So the whole thing may have no consequence except for a "bloodbath" among bitfinex bulls if market keeps moving against them.

On the other, Bitfinex is tether’s home and we know how this stablecoin matters when it comes to boost bitcoin price.

Bitfinex offers little leverage (3x) so bulls can go “underwater” deeply before their stop losses trigger  a classic “long squeeze”.  

When longs started increasing (on 23rd Nov), price was roughly 7200$ so, for now,  bulls can likely afford to hold their positions open.

Some big whales claimed to buy at 6k levels (https://twitter.com/AngeloBTC/status/1184154809726844928). Maybe they just get going.

Or maybe someone knows something really bullish we don’t.

[Icygreen]

We cannot know who is taking this position nor their intentions. We do know that tether was born on Bitfinex and has had many questions regarding a proper audit.
Is it possible that the money creating the parabolic long on Bitfinex is illegally printed tether or some engineering?  If so, the entity creating this long may have planned on its failure with little monetary consequence however the Bitcoin will already be in possession and could theoretically be ready for a fire-sale at market bottom creating further downwards pressure.
Maybe this speculation is too far out there but I don't trust Bitfinex or tether and we are not seeing any other exchanges with comparable positions.
Don't forget that this is all coming at the same time as government stable coins begin to take form and consequently will challenge tether in the coming year(s).  

[Wexlike]

What really flips me is that the growth is so unnatural and one-sided. The longs have to be closed at some point, I don't feel to well about it.


Edit:

https://leaderboard.bitfinex.com/vol:1w:tGLOBAL:USD

So this guy just lost 24 million US dollar right now ?

[Paashaas]

Either one of the ballsiest epic moves I've ever seen, or an absolutely disastrous miscalculation one...

[Icygreen]

What really flips me is that the growth is so unnatural and one-sided. The longs have to be closed at some point, I don't feel to well about it.


Edit:

https://leaderboard.bitfinex.com/vol:1w:tGLOBAL:USD

So this guy just lost 24 million US dollar tether right now ?

FTFY
I suspect there's a difference