Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Bitfinex
Bitcoin Market Dynamics Remain Bullish Post-Halving: Bitfinex
The market dynamics for Bitcoin’s post-4th-halving era are currently positive, suggesting that investors anticipate higher prices and miners are adjusting their strategies well. According to the new Bitfinex Alpha report, bitcoin (BTC) selling by long-term holders has not yet led to the typical pre-halving drop, suggesting that new market entrants are absorbing the selling pressure efficiently. Miners Adjust Strategies The halving, which has enhanced bitcoin’s scarcity over time, has reduced its daily supply to $40-$50 million. Analysts expect these numbers…
1 year ago
Is Bitcoin About To Skyrocket? Bitfinex Analysts Spot Familiar Patterns From December 2020
According to analysts at Bitfinex, Bitcoin and its recent activity on exchanges reflects a pattern reminiscent of December 2020, hinting at a possible growth phase. The exchange’s latest report highlights a significant decline in the supply of Bitcoin held by long-term investors on centralized exchanges, reaching its lowest levels in 18 months. This trend, coupled with the forthcoming halving event, suggests a scenario conducive to further price appreciation, as stated by the analysts. Potential Growth On The Horizon The Bitfinex…
1 year ago
Bitcoin Exchange Outflows Intensify as Market Recovers From Weekend Wipeout: Bitfinex
The neutralization of funding rates in crypto perpetual markets following the drawdown suggested that the correction was healthy and that volatility may eventually decline. With the Bitcoin halving a few days away, the amount of BTC leaving centralized exchanges has risen to levels not seen for more than 15 months. At the same time, the number of BTC that have not moved in over a year has declined significantly. According to the Bitfinex Alpha report, these on-chain activities come as…
1 year ago
Bitcoin Investors Continue to Take Profit as BTC Price Slides to 10-Day Low: Bitfinex
Long and short-term Bitcoin (BTC) holders have continued engaging in strategic profit-taking following BTC’s ascent to a new all-time high of $73,800. Bitfinex analysts believe BTC is likely to consolidate within a range, as long-term holders are offloading previously dormant supply. According to the latest edition of the Bitfinex Alpha report, long-term holders’ reactivation of old BTC supply underscores the cyclical nature of the crypto market. It also reflects patterns of distribution and accumulation among investors. Investors Engage in Strategic…
1 year ago
Here’s the Local Price Bottom of Bitcoin’s Current Trading Range, According to Bitfinex
Bitcoin (BTC) has established a local bottom at $56,000 for its current trading range following a 17.5% decline from an all-time high of $73,700. Bitfinex analysts revealed in the latest edition of the Bitfinex Alpha report that the primary factor behind BTC setting a bottom is the stabilization of flows into spot Bitcoin exchange-traded funds (ETFs). This shows that demand for the asset is beginning to slow down, allowing the market to find its equilibrium. Bitcoin Establishes Local Bottom Historical…
1 year ago
Bitcoin Tanks As Tether Faces Another Lawsuit
Major cryptos are in the red as major stablecoin Tether faces another lawsuit. The Crypto Fear and Greed Index, a measure of crypto sentiment, says it all. After the same opinion dominated last week, market sentiment is at "Extreme Fear" again. Over the last 24 hours, Bitcoin fell below $46,000. It since settled at $47,000. Ethereum, the second-largest crypto, fell to $3,806. Furthermore, smaller coins such as BNB, Solana, Cardano and XRP are all red. Except Doge, which rose after…
3 years ago
Tether Fined By Regulators For Lying About Fiat Reserves
Tether was hit with more legal repercussions amid rising concerns about its fiat currency backing. The stablecoin issuer is set to pay $41 million as settlement for allegations that it lied about its reserves. In the same case, Bitfinex received an accompanying charge. The CFTC Strikes against Tether and Bitfinex The news dropped this Friday when the Commodity and Futures Trading Commission (CFTC) issued a press release on the matter. Earlier in the day, the agency settled charges against Tether,…
4 years ago
Tether Scores Major Legal Win in Trillion Market Manipulation Case
Market manipulation by significant exchanges throughout the world has been a critical issue for most crypto traders. More so, the underdogs in the crypto industry are at a wild toll. Crypto whales only require to move a massive amount of crypto to determine how the marketing strategies go. Recently, Tether and Bitfinex found themselves in a spot concerning the same. Both blockchains have been in a fix. The two professors acting as plaintiffs declared their lawsuit against Tether and Bitfinex…
4 years ago
DeversFi Refunds Extra-Charged Gas Fees on Bitfinex
Bloomberg said Bitfinex paid $23.7 million in gas fees to deposit $100,000 on the Tether blockchain. Reports also revealed that the exchange was moving millions from the network to a decentralized exchange DeversiFi, and accidentally suffered an inflated gas fee. However, recent reports from DeversiFi show the platform is ready to make the refund. Bitfinex Makes a Quest-Riddled Crypto Trade Bitfinex, one of the world's most controversial crypto exchange platforms, made an eyebrow-raising trade on Monday that involved unrealistic gas fees. Recent reports suggest the exchange was moving…
4 years ago