The long positions of BTC by CEX whales have recently increased by 6%, reaching 48,615 BTC

In the past few days, CEX whale BTC long positions have increased by 6%, totaling 48,615 BTC. Analysis of CEX whale activity in 2024 shows that on February 10th, these whales held more than 76,000 BTC, but by the historical high in March, holdings had dropped to 42,000 BTC. Notably, CEX whales predicted that BTC would subsequently fall from a peak of about $73,500 to $56,500 on May 1st. Since the position fell to a low point on April 13th , CEX whale investors have been steadily increasing their holdings. As Bitcoin soared from $56,500 to $62,000 in the last two days , CEX whales continued to increase their positions. Historical trends show that CEX whale activity is usually a reliable indicator of price direction. When the price of BTC peaks , whale long positions often bottom out and these entities take advantage of market declines to increase their positions . And as prices rise , whale investors gradually sell off their positions.