Bitfinex’s Post

In our last issue of Bitfinex Alpha, we suggested that #Bitcoin's fall to $53,000 could be a local bottom. Since then, the price bounced back over 13%, ending the week up 8.76%. 📈 But have the markets recovered? The weekend recovery does not necessarily mean the downturn is over. 📊 Weekend-driven mini-rallies have been common in recent months, often followed by retracement during the week. The news-driven agenda continues to dominate sentiment, and the market could turn at any time. 🚨 Get more details in our #Bitfinex Alpha: https://lnkd.in/expPtaur

#Bitcoin    is in the middle of the bull cycle. Its market cap is growing faster than its realized cap, a trend that typically lasts around two years. If this pattern continues, the bull cycle might end by April 2025.

#Bitcoin  is in the middle of the bull cycle. Its market cap is growing faster than its realized cap, a trend that typically lasts around two years. If this pattern continues, the bull cycle might end by April 2025.

Oct 16 CoinEx Daily 📊 #CryptoNews 1️⃣ Daily Macro #Bitcoin #Ethereum #ETFs - $BTC breaks past $67K amid strong #BitcoinETF inflows of $373m, hinting at sustained bullish momentum. - $ETH rises to $2,600 despite a minor $12.7m #EthereumETF outflow, reflecting ongoing investor confidence. 2️⃣ Daily Focus $PUFFER #TESLA - The @puffer_finance $PUFFER airdrop, rewarding $EIGEN stakers, garners interest with its high returns, signaling potential growth in staking participation. - Speculation rises as @Tesla moves 11,500 $BTC; market watches for potential impacts on strategy and asset management. 3️⃣ Next Focus #Politics With changing geopolitical dynamics, monitoring the effects on market stability and #Bitcoin's role as a potential economic hedge is IMPORTANT. Full read on CoinEx📲⤵️ https://lnkd.in/g2kcvy9r

The Rainbow Chart 🌈 is a tool for forecasting #Bitcoin's long-term value, utilizes a logarithmic growth curve to predict future price movements. With #BTC in the 'buy' and 'accumulate' phase according to the Green zone, the recent ATH pullback is an opportunity, not a setback.

$BTC: The price has completed a 5-wave movement from last week's low, which allows two potential scenarios: 1) A completed 5-wave structure from the July low for wave 1 (yellow scenario). 2) A 1-2 1-2 structure as per the white scenario. Support for the more directly bullish scenario in white is defined between $67,136 and $64,724. If the price holds this support, we could see a swift move up to $90,000-$100,000 with minimal pullbacks, indicating the price is entering a third wave. If the price falls below $64,724, then this strongly favors the yellows scenario. This interpretation is still bullish but suggests a deeper and potentially more prolonged pullback for wave 2 in yellow. Similar to the white scenario, this setup also indicates a strong move up to $90,000+ in the coming weeks and months. The major support zone for continued upside is between $63,270 and $56,737. As long as sell-offs respect this support zone, we should expect to see $90,000+ within the next several weeks to a few months. Currently, there is no clear bearish perspective until the yellow support zone breaks. #Bitcoin #BTC #ElliottWave #BullMarket

#Bitcoin saw big monthly returns in February (+43.55%), but things have slowed down since. #BTC currently has a negative monthly return in April and is on pace to have its first red month since August 2023. A reason we see: long-term HODLers are taking profits. Our take? ✔️ Market fluctuations are common, and this could be a natural shift in investor participation. ✔️ Current market activity may indicate an opportunity for new investors to enter the space. ✔️ The crypto market experiences periodic cycles of investor turnover. This could be part of a normal trend. Let's #HODL and keep calm! #BitcoinHalving2024 #BitcoinETF #BitcoinHalving #BTCHalving

#Bitcoin just sank below $58K. If it takes out it's July low by tomorrow's U.S. #StockMarket open, #BitcoinETFs will gap down by more than 15%, 30% below their Jan. highs. A loss of that magnitude may finally trigger mass ETF liquidations. If so, brace for a #Crypto black Monday.

📰 Cointelegraph, citing CCData, reports June's CEX trading volume fell 21.8% month-on-month, with combined spot and derivatives trading volumes declining for three months. Open interest and options trading also decreased due to forced liquidation following price drops, partly due to Mt. Gox redemptions and German Bitcoin sales. Binance's market share dropped from 40.4% to 31.2% year-on-year, while Bybit (+4%p) and Bitget (+3.7%p) increased their shares. 📉🔄 #BitcoinWorld