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📅 July 3, 7:00 – July 9,
Analysis Company issued a local dip warning on two major altcoins!
Crypto analysis firm Alphractal highlighted the Bitfinex leveraged position data in its latest assessment.
The company stated that the data, which investors mostly overlook, actually provides important clues about market direction.
Alphractal stated, "When long positions increase on Bitfinex, the price usually drops. Conversely, when long positions decrease, the price generally rises." According to the analysis, investors often take incorrect positions regarding market direction, and this leads to liquidations, causing prices to move in the opposite direction.
Alphractal, currently indicating that long positions on Bitfinex are declining, argued that the continuation of this trend could be a positive signal for prices. However, if long positions start to increase again, this may herald a potential price drop.
The company also announced that significant long position liquidations have occurred in ADA and LINK, while currently the highest liquidation potential is in short positions. It was also noted that when large positions are liquidated in the crypto market, prices tend to form local bottoms.
*It is not investment advice.
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