Bitfinex traders double down on bitcoin during five-day slide as longs hit 2.5-year high

60-second summary

Bitfinex traders are doubling down on bitcoin during its five-day slide, with margin longs reaching a two-and-a-half year high. This surge is occurring as bitcoin struggles below key technical resistance near $78,000. Market sentiment remains bullish, with traders betting on a rebound, despite the current bearish trend, potentially leading to a short-term price increase.