đ Bitcoin Consolidation Continues
đ Bitcoin Consolidation Continues
⥠Bitcoin's Delicate Balance
Markets are consolidating as optimism gradually returns following October's massive $19B liquidation event.
Key Support Holding
- BTC trading above 0.85 supply quantile cost basis
- Only 15% of circulating supply currently in loss
- $107K-$108K zone acting as gravitational support line
Market Dynamics
- Volatility remains compressed
- Bitcoin defending key technical levels
- Delicate balance between stability and next directional move
External Factors
- Rising energy prices creating market uncertainty
- FX volatility across global markets
- Potential catalyst: Additional liquidity could flow toward crypto
The market appears to be in a consolidation phase after the dramatic October selloff, with traders watching whether current support levels will hold or if another move is brewing.
What triggered the sharpest crypto sell-off in months last week? A sudden wave of spot selling as USâChina tariff tensions spiked on Oct 10 - creating a 2.5x imbalance between sellers and buyers and fueling cascading liquidations across futures markets. Read more âŹď¸
Despite uncertain markets, thereâs still room for optimism. đ¤ď¸ Historically, Bitcoinâs Q4 performance - especially in post-halving years - has shown strong recovery potential. Could we be on the brink of another turnaround? đ§ľ
As whales slow their selling and ETF inflows keep building, structural support for Bitcoin is strengthening. With benign inflation and a dovish Fed reviving risk appetite, the path toward new ATHs in Q4 looks increasingly clear.
With data releases on pause, markets are operating without key signals - setting up potential volatility once updates resume. Despite risks, traders are still eyeing BTC above $130K. Read what the Bitfinex analysts say in @YahooFinance @dlnews finance.yahoo.com/news/traders-sâŚ
After one of the most dramatic days in crypto history, markets are showing both pain and potential. Bitcoinâs fall from above $126,000 last week to briefly below $103,310 marked an 18.1% drawdown - triggering the largest liquidation event ever recorded â ď¸ A closer look đ
The Q4 outlook for Bitcoin looks strong. Supply is falling, whale selling is subsiding and demand from institutions continues to grow. - Bitfinex Alpha via @bitcoinnews news.bitcoin.com/bitfinex-analyâŚ
As Bitcoin slips below $120,000, Bitfinex analysts share their perspective on the factors shaping todayâs market. @Forbesâ @CharlesLBovaird includes our commentary in his latest analysis. forbes.com/sites/digital-âŚ
The defining feature of the current Bitcoin cycle? Its inflow structure. Unlike earlier cycles with a single prolonged wave, this cycle has seen three distinct multi-month surges - each punctuated by heavy profit-taking. Donât miss the analysis âŹď¸
Bitcoin Miners Sell 5K BTC as Reserves Hit March Lows
Bitcoin miner reserves dropped approximately 5,000 BTC over six weeks, falling to 1.801 million BTC - matching levels last seen in March. During this period, BTC price declined 10% from $82,000 to $76,700. **Key Points:** - Miner reserves now at 1.801M BTC, down ~5K in six weeks - Price fell from $82K to $76.7K (10% decline) - Miners selling into weakness, capping price range - Reserves back at March 2026 lows The selling pressure from miners appears to be preventing price breakouts, keeping Bitcoin range-bound rather than enabling significant moves in either direction.
Bitcoin Funding Rebounds After Major Liquidation, But Institutional Interest Lags
**Retail traders are piling back into Bitcoin longs just 72 hours after the largest liquidation event in three months, while institutional players remain on the sidelines.** - Bitcoin funding rates have surged to +10.95% annualized - Open Interest sits at its lowest level since April 11 - Bitfinex margin longs reached 82,681 BTC last weekâhighest since November 2023 and an 88% increase from July 2025 lows - This occurred even as BTC dropped 10% and macro conditions tightened **The divergence is notable:** retail traders are re-engaging with leveraged long positions while institutional order books show no similar activity. Over $1.5 billion in open interest has been cleared from recent sessions, resetting positioning after BTC's move toward $82k. Despite Monday's $584 million in long liquidations, Bitcoin holds above the May monthly open. Exchange reserves have hit 7-year lows while stablecoin market cap increased by $2 billion in a week. **Tomorrow's PCE data serves as the next potential catalyst** for price direction, as the market sits with ample ammunition for a move but lacks a clear trigger. [Read the full analysis](https://blog.bitfinex.com/bitfinex-alpha/leverage-reheats-btc-price-structure-weakens/)
Bitcoin Price Holds Despite $700M Daily ETF Outflows
Bitcoin is showing resilience despite significant selling pressure. ETF outflows are running at **-$700M per day**, matching the February levels that previously drove BTC from $100K down to $70K. However, this time the price is holding steady. An **unidentified buyer is absorbing the selling pressure**, preventing the sharp decline seen in February when BTC dropped to $60K. This suggests strong underlying demand at current price levels, with institutional or whale buyers stepping in to support the market despite heavy outflows from exchange-traded funds.
Bitfinex Derivatives Integrates Thalex for Professional Options Analytics
Bitfinex Derivatives has integrated with Thalex to provide customers access to professional options analytics tools. The integration allows Bitfinex Derivatives users to: - Access Thalex's full range of options and futures products - Utilize professional-grade analytics for options trading - Benefit from enhanced trading flexibility This partnership expands the trading capabilities available to Bitfinex Derivatives customers by connecting them directly to Thalex's platform. More details: [Bitfinex announcement](https://www.bitfinex.com/posts/1082)
Long-Term Bitcoin Holders Accumulate Again, Supply Nears All-Time High
Long-term Bitcoin holders (LTH) have shifted from selling to accumulating, with their supply reaching **16.2M BTC** - close to the **16.3M BTC** all-time high from early 2024. This marks a significant reversal from October 2025, when LTH supply dropped by 0.3M BTC as holders took profits. The renewed accumulation suggests strong conviction among experienced Bitcoin investors despite market conditions. [Source](https://x.com/bitfinex/status/2057687991703712150)