Bitcoin reached 88,228 USD, its highest level in three weeks. Bitfinex traders significantly cut long positions, prompting speculation that Bitcoin whales may be expecting a price correction.
Political tensions in the US and concerns over a global trade war are contributing to an overall risk-off sentiment among investors, impacting their market decisions despite the bullish nature of Bitfinex whales.
Bitfinex whales maintain a strong bullish position with 79,136 BTC longs valued at 6.86 billion USD, suggesting they have not turned bearish despite the recent decrease in long positions.
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