NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

Tezos (XTZ) Long Positions Set All-Time High as 96% of Bitfinex Traders Flip Long

Cole Petersen
Cole Petersen
5 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Tezos has seen some strong price action in recent weeks, with its price facing some choppy trading throughout the past couple of days.

It appears that the cryptocurrency’s recent price action has become decorrelated from that seen by Bitcoin and the rest of the market, and is showing some striking similarities to that seen by Chainlink over the past few days.

Analysts are now widely noting that its strong market structure should be enough to propel it higher in the days and weeks ahead.

Traders seem to be taking notice of this, as XTZ open interest on popular trading platform Bitfinex recently soared to a fresh all-time high.

96% of this total open interest is composed of long positions – showing that traders are overwhelmingly confident that further upside is imminent.

Tezos Posts Strong Price Action as It Rests Above Key Support 

At the time of writing, Tezos is trading up roughly 5% at its current price of $3.02. This is around the price at which the cryptocurrency has been trading throughout the past day.

This weekend, XTZ peaked at highs of $3.15 before facing a sharp selloff alongside Bitcoin and the rest of the market.

It ultimately dipped to lows of $2.80 before finding some significant support, and it has been ranging between these lows and highs of $3.10 ever since.

While speaking about its technical outlook, one analyst noted that its strong support at the lower end of this range has led to an influx of buyers who are now stepping in.

The crucial resistance it needs to break to explode higher sits between $3.15 and $3.80 – he claims.

“XTZ: Still nicely consolidating inside a range. Green zone holding as support and buyers are eager to step in there. Crucial resistance zone is the $3.15-3.18 area. A breakthrough of that level = test of $3.60-3.90.”

Tezos XTZ

Image Courtesy of Michaël van de Poppe. Chart via TradingView.

Bitfinex Traders Overwhelmingly Long on XTZ 

Tezos’ current technical strength is not going unnoticed.

Data shows that open interest for the cryptocurrency on Bitfinex just soared to a fresh all-time high.

Interestingly, 93% of this open interest is comprised of long positions.

As seen in the below chart offered by another analyst, this is a historic high for the cryptocurrency and suggests that certain large traders are expecting it to see massive near-term upside.

“XTZ OI on Bitfinex is 96% long with longs at a mega new ATH. 70% of that long OI was added in late July.”

Image Courtesy of Josh Olszewicz. Chart via TradingView.

Whether or not this helps lift Tezos higher or provides bears with fuel to spark a short squeeze remains to be seen.

Featured image from Unsplash.
Charts from TradingView.
Tweet123Share196ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Dogecoin ETF news

First US Dogecoin ETF Could Debut Next Week—How Will It Impact Price?

The first US exchange-traded fund offering exposure to Dogecoin (DOGE) could debut as soon as next week, after the ETF...

Jake Simmons 4 hours ago

Trendošā jaunā mēmu monēta TOKEN6900 gatavojas uzlidojumam – vai tā būs nākamā SPX6900?

Trendošās mēmu monētas TOKEN6900 (T6900) cena gatavojas kāpumam “sliktās ziņas = labas ziņas” scenārija dēļ, ko šodien gaida no NFP...

lasma 4 hours ago
Crypto Market Heats Up as Corporate Bitcoin Treasuries Reach 1M – Here are the Best Cryptos to Buy

Crypto Market Heats Up as Corporate Bitcoin Treasuries Reach 1M – Here are the Best Cryptos to Buy

The corporate Bitcoin sector has just smashed a major milestone. Public companies now own over 1M $BTC, showing massive confidence...

Aaron Walker 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

pret_bitcoin_si_red_september

Preț Bitcoin sub presiune în “Red September”: cum schimbă jocul Bitcoin Hyper

antonio 37 minutes ago
Noord-Koreaanse hacker op de loer - pas op voor deze groeiende scam

Noord-Koreaanse hacker op de loer – pas op voor deze groeiende scam

Lars Diederiksen 2 hours ago

Previsioni Ethereum: ETH Resiste Alle Turbolenze del Mercato Crypto

clararosati 4 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後は4ドル突破か?新興ミームコインが200万ドルプレセールで主役に

    ドージコイン...

    4 hours ago
  • リップル 今後の価格予測:米規制緩和と国際送金拡大で3ドル突破の可能性

    リップル...

    4 hours ago
  • ChatGPT予測によるソラナ400ドルと注目の仮想通貨おすすめ銘柄

    ...

    5 hours ago
  • 新しい仮想通貨のプレセール、クジラ投資で1,500万ドル目前

    ...

    5 hours ago
  • 1M BTC超を蓄積する企業財務、1110億ドル規模へ拡大──アルトコイン市場が躍進

    1M...

    6 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.