Bitfinex: Bitcoin's monthly decline exceeds 30%, and the bottom remains elusive

Bitfinex Alpha's latest report indicates that Bitcoin has dropped by 30.6% over the past month, exceeding the 24% decline during the consolidation phase of 2024, with the bottom still elusive.

Short-term holders are typically the most sensitive group to price fluctuations, and their selling speed has reached the highest level since the FTX collapse in 2022. Additionally, the total liquidation amount across the network has risen again, highlighting the immense pressure faced by the perpetual contract market due to large-scale deleveraging. Seasonal factors are usually reliable indicators, but this time they have failed to play a role. Despite Bitcoin's average increase of 40% in the fourth quarter over the past decade, the current decline in November has reached 21.3%, and October has set a record for the first decline in seven years.