Bitfinex Bitcoin longs hit a record-high, but does that mean BTC has bottomed?

2022.06.07 00:06

Bitfinex Bitcoin longs hit a record-high, but does that mean BTC has bottomed?

Bitcoin (BTC) has been unable to close above $32,000 for the past 28 days, frustrating bulls and pushing the Fear and Greed index to bearish levels below 10. Even with June 6’s small boost, the tech-heavy Nasdaq stock market index is down 24% year-to-date.

Investors who keep a close eye on regulatory development were possibly scared after New York state made clear its intention to regulate the crypto industry, including Bitcoin mining.

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