Bitcoin Bulls or Mirages?

In the world of Bitcoin trade, Bitfinex recently saw its margin longs plummet by 18%. Despite Bitcoin surging 24% in value over 30 days, massive long positions worth $6.8 billion exist against a paltry $25 million in shorts. This imbalance is due, in part, to more attractive margin trading conditions on Bitfinex compared to futures, revealing intriguing arbitrage chances. However, the options market reflects firm trader optimism, indicating confidence in Bitcoin's potential to break the $105,000 resistance despite the current profit-taking trend.