Analysis: Bitfinex Bitcoin long positions hit a 28-month high, potentially signaling a reversal and a bearish trend.

PANews reported on March 30th that, according to CoinDesk, as of 1 AM today, the number of long positions in BTC/USD on the Bitfinex exchange climbed to 79,343, reaching a 28-month high since November 2023. Historical data shows that surges in long positions on this platform have repeatedly acted as a contrarian indicator, often foreshadowing price tops and impending sell-offs. For example, in the fourth quarter of 2025, while the number of long positions in BTC/USD increased by 30%, the spot price of Bitcoin fell by 23%. Currently, this extremely bullish sentiment indicator is flashing red again. Coupled with geopolitical tensions and macroeconomic pressures, market analysts believe that Bitcoin's consolidation in the $65,000 to $75,000 range may end with a downward breakout, deepening the downtrend that began from last year's high.