Bitcoin Whales Reduce Leverage Positions on Bitfinex: Signaling Potential Market Correction?

Despite Bitcoin (BTC) hitting its highest level in over three weeks, traders on Bitfinex significantly reduced their leveraged long positions (bullish bets) between April 17 and 19. This reduction has sparked speculation that prominent Bitcoin whales may anticipate a price correction or lack confidence in continued short-term gains. Let’s delve deeper into whether this indicates a bearish shift from these major players, or just strategic profit-taking.