Bitcoin long positions surge to 79,000! Adam Back: Long-term funds are quietly accumulating.

Gate News news, according to the latest data, the number of leveraged long positions held on a certain major platform for Bitcoin has risen to approximately 79,193 BTC, reaching a new high since November 2023. At the current stage, when the price is under pressure and market sentiment is relatively cautious, this change has drawn market attention to the movements of large capital.

Blockstream’s CEO Adam Back believes that this ongoing accumulation is not short-term speculative behavior, but more like long-term capital gradually building positions during a pullback phase. He pointed out that when the Bitcoin price is below 69,000 US dollars, buy-side demand shows stronger resilience, and there is stable accumulation occurring in the market.

From a strategy perspective, some institutions may adopt a time-weighted average price (TWAP) approach to buy in batches, rather than making a one-time large entry. This kind of operation helps reduce slippage costs while continuously building positions in a choppy market. The data shows that the current daily average buying volume may reach several hundred Bitcoins, and the pace of capital inflow is relatively balanced.

It is worth noting that this round of long expansion occurs during a price pullback phase. Although Bitcoin’s price action is still suppressed by geopolitical risks and macro factors, the size of leveraged long positions continues to grow, suggesting that some market participants maintain optimistic expectations for the medium- to long-term outlook.

Some analysts point out that this structural change may indicate that coins are shifting from short-term traders to long-term holders. Once the market sees positive catalysts, combined with tightening supply, price volatility could be amplified rapidly.

At present, Bitcoin is still trading in a key range and the battle between longs and shorts continues to intensify. The ongoing accumulation of long positions gradually brings potential trend shifts into view; the subsequent tendencia will depend on further changes in the macro environment and the direction of capital flows.