Loan demand is not bullish because in order to fill the loan, someone else has to front the USD, which means that those USD cannot be used to buy bitcoins. It all sums out to zero.
Not accurate, this assumes that all the USD lenders would otherwise buy BTC. In fact there are many lenders who are only interested in staying in USD and using Bitfinex as a way to earn a higher "risk free" return on their USD than they can find elsewhere.