Bitcoin Funding Rebounds After Major Liquidation, But Institutional Interest Lags
Bitcoin Funding Rebounds After Major Liquidation, But Institutional Interest Lags
📊 Retail vs Institutions
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 week—highest 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.
Bitfinex margin longs hit 82,681 BTC last week as $BTC slid 10%. The highest level since November 2023, even as the macro tightened. Bitfinex Alpha 206 reads what comes next. go.bitfinex.com/BFXAlpha206
$BTC funding has rebounded to +10.95% annualised within 72 hours of the largest liquidation in 3 months, while OI sits at its lowest since 11 April. Retail is re-engaging longs. Institutional books are not following. Tomorrow's PCE is the next trigger. blog.bitfinex.com/bitfinex-alpha…
“Bitfinex margin longs expanded to 82,681 $BTC last week, the highest reading since November 2023 and an 88 percent increase from July 2025 lows.” - @TheBlockCo Our data. Bitfinex Alpha tracks it every week. ✅ Full read 👇 theblock.co/post/402552/op…
$584m in longs were wiped on Monday, yet $BTC still holds above the May Monthly Open. Meanwhile: ▫️ Exchange reserves: 7-year lows ▫️ Stablecoin market cap: +$2bn in a week The ammo for an $80k reclaim is there. The trigger just hasn’t been pulled. blog.bitfinex.com/bitfinex-alpha…
Open interest has dropped by roughly $1.5bn in recent sessions, clearing much of the leverage built up during $BTC’s move toward $82k. With short-side fuel exhausted and long positioning reset lower, the next major move likely depends on spot demand.
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 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)