PANews reported on May 20th that, according to CoinDesk, Bitfinex's leveraged long positions in Bitcoin have risen to 80,636 BTC, the highest level since December 2023. Despite BTC's year-to-date decline of approximately 13% and current price of around $77,000, Bitfinex long positions have still increased by about 10% since the beginning of the year, indicating that leveraged funds have been continuously increasing their holdings during price pullbacks. The article states that over the past five years, so-called "Bitfinex whales" have typically added to their positions during market weakness and sentiment-driven capitalization, and reduced their positions before local tops and trend reversals. Currently, BTC is testing resistance around the True Market Mean of approximately $78,000, above the cost price for short-term holders. Its 200-day moving average is above $81,000, forming a key technical range that the bulls need to break through.