Bitfinex ETH longs climb to their highest level in over four years

Margin traders on Bitfinex are leaning hard into Ethereum. Long positions on the exchange have reached their highest level in more than four years. As of October 11, 2026, Bitfinex margin data showed approximately 283,410 ETH in longs. That works out to roughly $709 million at current prices, the largest bullish bet on the platform since at least 2022. The numbers behind the bet A margin long is a leveraged wager that a price will rise. A trader borrows funds, buys more of an asset than they could afford outright, and profits if the price goes up. Bitfinex longs sat at around 82,500 ETH in late August. The jump to more than 283,000 ETH since then is substantial, and much of it happened quickly. Long positions surged 157% over just seven days, according to the margin data. The current tally sits just below the 90-day peak of 283,598 ETH, recorded on October 8. Shorts tell the opposite story. Bets against ETH on Bitfinex have dwindled to approximately 3,530 ETH, or about $8.8 million. Put the two figures side by side and you get a long-to-short ratio of roughly 80:1. The buildup arrived while Ethereum traded around $2,500. It also came after a stretch of price volatility that include...