Adam Back has identified an "abnormal" surge in Bitfinex margin longs, hitting an ATH of 79,000 BTC. As of March 29, 2026, whales are deploying $20 million daily in tactical TWAP buys below $69,000.
Adam Back has identified an "abnormal" surge in Bitfinex margin longs, hitting an ATH of 79,000 BTC. As of March 29, 2026, whales are deploying $20 million daily in tactical TWAP buys below $69,000.Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.
Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. While crypto market participants have switched into macroeconomic and geopolitical analysts, keeping their focus on the oil chart, a different scenario is unfolding on Bitfinex — one that industry legend Adam Back According to the latest margin position monitoring data, the volume of long positions on Bitfinex has now reached a historical high not seen since November 2023, hitting The CEO of Blockstream pointed out a unique market structure. In particular, a group of institutional players appears to be using a TWAP strategy — time-weighted average price — aggressively buying up any available supply below the $69,000 level.XRP Sets up Bear Trap, Shiba Inu Bull Market Confirmed; If This Hits, Will Ethereum Hold $2,000? Crypto Market Review As Back emphasizes, margin holding on Bitfinex has been accelerating since late 2020. Around 79,000 BTC have been accumulated using leverage, with an estimated build rate of 300 BTC or more per day through organic trades.margin longs at ATH since nov 2023. 79k BTC bought on margin, and rising 300+ BTC/day all-day TWAP + organic trades.What makes the current situation notable is that this accumulation is happening during a correction phase. While retail participants remain cautious, large players on Bitfinex are demonstrating conviction. Back stresses that this is not artificial speculation, but rather a long-term strategic positioning by entities that are difficult to identify.At present, the broader market shows signs of bearish exhaustion on the weekly time frame. According to some analysts, including Back, the sheer size of accumulated positions could lead to a liquidity shortage on the supply side. If the current pace of $14,000 per minute in buying pressure continues, any positive catalyst could accelerate price movement sharply, as available supply in the market depth has already been reduced. If this framework holds, the market may be witnessing a redistribution of assets from weaker hands to strategic accumulators.
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