Bitcoin’s (BTC) long positions on Bitfinex have dropped as whales suddenly cashed out on March 25 at around 13:00 UTC, according to data from Datamish. These wallets have been inactive since June 2022, with an aggregate value of 12,000 BTC. This movement represents a small segment of investors motivated to exit their long and short BTC positions to take advantage of the recent price pump.

Bitcoin (BTC) whales holding long BTC positions on Bitfinex suddenly cashed out on March 25 at around 13:00 UTC, according to data from Datamish. These wallets have been dormant since June 2022, and their aggregate value sits at 12,000 BTC, as the data indicates. This movement represents a small segment of investors who are motivated to exit their long and short BTC positions to take advantage of the recent price pump. Bitfinex exits The cash out on March 25 marks the most significant change in BTC’s long positions since June last year. The chart below represents the volume of long BTC positions since May 2022.

BTC’s recent price pump considerably contributed to the current bullish market sentiment. BTC surged past $28,000 on March 21, which led liquidations to raise over $230 million within 24 hours. The surge also motivated the long-term holders to liquidate their positions, CryptoSlate research revealed on March 21. “Long-term holders are one of the most important factors,” the research states, “as their behavior determines local bottoms and fuels future price rallies.” As soon as BTC broke through $28,000, long-term holders rushed to sell a portion of their holdings, leading the BTC price to decrease slightly. The same movement was recorded during the slight BTC price increase recorded on March 15. Long-term BTC holders sold off over 43,000 BTC between March 15 and March 17.


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