PANews June 5 news, according to CoinDesk, TradingView data shows that as of now, BTCUSD long positions on Bitfinex have fallen to 47,691, the lowest since December last year, providing bullish clues for Bitcoin. Long positions have continued to decline after reaching a peak in early April, and the price of Bitcoin has quickly rebounded from about $75,000 to a record high of over $110,000 during the same period. Crypto analysis company Alphractal said on the X platform that prices tend to fall when Bitfinex long positions rise, and prices usually rise when they fall. It explained that traders often misjudge the direction of the market, triggering forced or discretionary liquidations, and driving prices in the opposite direction. João Wedson, CEO of Alphractal, said that as long as Bitfinex long positions continue to decline, Bitcoin will continue to rise. Looking back at every major rise in Bitcoin since 2021, it has been accompanied by a decline in BTCUSD long positions on Bitfinex; while bear market trends appear when long positions surge.