Bitfinex Margin Longs Multi-Year High
Institutional conviction is building for Bitcoin as margin longs on Bitfinex reach a 2.5-year high, suggesting a potential move higher.
Too little corroboration in the last 3 days to call a trend (19 articles). Watching for it to gain traction.
A mix of mainstream and niche sources — coverage is broadening.
"Capital B purchased another five Bitcoin for €280,000, lifting its strategic Bitcoin treasury to 3,145 BTC as the Euronext Growth Paris-listed company continued using equity issuance to fund its accumulation strategy."
"Despite focusing on its cash buffer, Strategy has reassured investors that its long-term posture toward Bitcoin is still the same. CEO Phong Le said earlier this month that he isn't worried about the current bear market, and that the company plans to remain a long-term buyer of Bitcoin despite its recent sales."
"Morgan Stanley's Bitcoin Trust attracted $371 million in gross contributions across its first 85 days, combining $200.3 million in cash with $170.8 million in Bitcoin, even as the fund posted a $66.8 million net asset decrease per Cryptonomist. Institutions are buying the dip, not chasing the peak."
"Bitcoin's 'strongest hands' were accumulating, with the number of wallets holding more than 10,000 BTC reaching a six-month high. Hedge funds were shifting, too. Leveraged funds on CME moved away from the structural shorts associated with the once-popular bitcoin basis trade and toward a net-long position."
"MARA Holdings pledged 18,750 BTC worth $1.2 billion to secure $600 million in fresh loans. Importantly, they accomplished this without selling a single coin. That is conviction at $64,200."
"MARA just pledged 18,750 Bitcoin as collateral for $600 million in AI infrastructure loans, borrowing against its own treasury to bet on what comes next. That is not caution. That is conviction so strong they are leveraging their own holdings to act on it."
"Morgan Stanley has continued to double down on its Bitcoin holdings, drawing attention from the crypto community amid unstable market conditions. Following its steady Bitcoin accumulation, further data showed that the banking giant now holds about $400 million worth of Bitcoin, signaling its conviction in the asset despite the market downturn."
"Intesa still reported 3.47 million shares of the ARK 21Shares Bitcoin ETF, or ARKB, worth $67.63 million. The continuing holding limits conclusions that the banking group abandoned Bitcoin exposure simply because it reduced IBIT."
"Whatever the reason, the decision to maintain or increase bitcoin exposure while the price was declining signals that SpaceX's bitcoin position is strategic rather than opportunistic. Companies that view bitcoin as a short-term trade typically sell into weakness. Companies that view it as a long-term treasury allocation buy into weakness."
"American Bitcoin now has a reserve worth over $510.6 million today's prices, after the company's 'highest quarterly production on record.' Our conviction in Bitcoin remains absolute, and our goal is simple: to deliver relentless growth, quarter after quarter, and build the preeminent American Bitcoin powerhouse for the long haul."