bitfinex

Bitfinex reports that Bitcoin has experienced a consecutive five-month decline since 2025, marking the first occurrence of a "five consecutive down" structure since 2018, with a monthly drop of 14.93% in February and a maximum cumulative drawdown of approximately 52.34%. However, early signs of market recovery have emerged in March.Data shows that since March 1, approximately $3.2 billion in BTC has been systematically purchased at market price across exchanges, successfully reclaiming the $65,000 level; the Coinbase premium index has ended its continuous 40-day negative value and turned positive, indicating a return of U.S. spot buying. The derivatives structure also remains relatively healthy: open interest has risen to $53.1 billion, a 15.4% increase from Sunday’s close, but the perpetual funding rate is only about 9.5% APR, showing no signs of overheating. Open interest and spot have expanded in sync, reflecting that this round of increase is more driven by spot absorption.Regarding ETFs, the U.S. spot Bitcoin ETF recorded approximately $1.1 billion in net inflows last week, with a total of over $450 million on Monday and Tuesday, indicating that institutional demand remains a core support. Analysts believe that if key support holds, Bitcoin may recover to the $80,000-$85,000 range in the next 1-3 months; in the short term, attention should be paid to the $72,000-$74,000 area of concentrated short liquidations and the potential dynamic support at $66,000. The overall judgment remains cautiously bullish.

Bitfinex released a report stating that despite the fierce BTC sell-off momentum, the $60,000 to $62,000 range remains intact, indicating that forced selling is gradually transitioning to a phase where it is being absorbed by the market, rather than a new round of capitulation selling.The situation with derivative positions confirms that leverage has been fully reset. The open interest in futures has decreased by more than 50% from the peak in October, and after the escalation of the situation in Iran, the funding rate briefly turned significantly negative, indicating that market sentiment has bottomed out, with a large proportion of short positions. Historically, if spot demand follows, such extreme situations will create conditions for a rebound short squeeze.However, the options market presents a more complex picture: recent options skew remains defensive, with strong demand for downside protection, while the quarterly positions in late March show a clear bullish tendency, concentrated in the $80,000 to $90,000 range.

According to on-chain data, the wallet address marked as Bitfinex hot wallet has deposited 100 BTC (approximately 6.66 million USD) to Gate.

Bitfinex Securities has announced an update to its account structure, allowing users to trade tokenized securities without the need to separately open a dedicated securities sub-account. Under the new account structure, security tokens will be natively supported in the main account and standard trading sub-accounts. Previously, new users had to create a separate Bitfinex Securities sub-account before they could start trading. Existing securities sub-accounts will be converted into regular trading sub-accounts, while retaining the original asset segregation, login credentials, two-factor authentication (2FA) settings, and withdrawal permissions. After the update, users will be able to freely transfer security tokens between sub-accounts and the main account, and the related assets will also be displayed alongside other digital assets in the exchange wallet.

According to The Block, K33 research director Vetle Lunde pointed out that the current trading price of Bitfinex's LEO token is about 60% above its implied fair value, which may indicate that the market expects new developments in the process of handling the Bitcoin seized during the 2016 Bitfinex hack.Currently, approximately 94,636 Bitcoins related to this incident remain frozen, representing about 30% of the U.S. strategic Bitcoin reserves, and are undergoing legal proceedings to determine the victims' claims. According to Bitfinex's commitment in 2019, if the assets are recovered, 80% of them will be used to repurchase and burn LEO tokens.Analysts believe that if the court rules to return the Bitcoins to the victims rather than confiscating them by the government, about 75,000 Bitcoins could gradually enter the market over the next 18 months, with an average daily sell-off of approximately 139 Bitcoins.

According to the Bitfinex Alpha report, the Bitcoin market remains in a high time frame downtrend due to weak inflows from Bitcoin spot ETFs and continued selling by large holders.The report notes that although Bitcoin has rebounded 20% from its low on February 5, it has not yet confirmed a bottom. So far this year, the U.S. Bitcoin spot ETFs have seen a cumulative net outflow of $2.6 billion, and the "ETF fatigue" among institutional investors has intensified selling pressure. On-chain data shows that approximately 64% of the inflow funds to exchanges currently come from large holders (whales), marking the highest ratio since October 2015.Additionally, affected by U.S. tariff policies and macroeconomic uncertainty, options traders are once again paying a premium for downside risk, leading to a cautious market sentiment. Currently, the realized price of $53,000 is seen as a key support level for the mid-term market.

Bitfinex Alpha's latest report indicates that Bitcoin has experienced the deepest pullback in this cycle, with volatility narrowing and momentum weakening, showing that the market is shifting from a liquidation-driven decline to a more balanced consolidation environment.On-chain data shows that most of the recent drop has been absorbed by the demand zone of $60,000 to $69,000, with these near breakeven holders not accelerating their sell-off, which helps stabilize prices and form a sideways pattern.Institutional fund flows remain cautious, with a net outflow of approximately $166 million from Bitcoin ETFs in a single week, and Ethereum-related products also seeing continued redemptions, indicating that sustained accumulation has not yet returned. Although weekend inflows provided initial stabilization signals, overall liquidity remains low. The realized profit-loss ratio continues to shrink to historically defensive levels, indicating limited capital expansion within the network.Derivatives positions have returned to normal, with funding rates trending neutral to slightly negative, reducing liquidation risks but also limiting the acceleration of upward movements.

Bitfinex Alpha's latest report indicates that Bitcoin is still consolidating in the $66,000–$70,000 range after its decline, marking the deepest pullback in this cycle. The volatility has narrowed and momentum has weakened, showing that the market is shifting from a liquidation-driven downturn to a more balanced consolidation environment.On-chain data shows that most of the recent decline has been absorbed by the demand zone between $60,000 and $69,000. These near breakeven holders have not accelerated their selling, which helps stabilize prices and form a sideways pattern. Additionally, institutional capital flows remain cautious, with Bitcoin ETFs experiencing a net outflow of approximately $166 million in a single week, and Ethereum-related products also seeing continued redemptions, indicating that sustained accumulation has not yet returned.Although weekend inflows provided initial stability signals, overall liquidity remains low. The realized profit-loss ratio continues to shrink to historically defensive levels, indicating limited capital expansion within the network. Derivatives positions have returned to normal, with funding rates trending neutral to slightly negative, which reduces liquidation risk but also limits the acceleration of upward movements.

According to Onchain Lens monitoring, a newly created wallet withdrew 500 BTC from Bitfinex, approximately 32.81 million USD.

According to Onchain Lens monitoring, a certain whale deposited 1,000 BTC to Bitfinex after being inactive for five years, worth 67.64 million dollars.

Bitfinex Alpha pointed out in its latest analysis report that after Bitcoin's price dropped to a local low of around $60,000 in early February, it is beginning to stabilize. Coupled with the macroeconomic environment turning positive, the interest rate market is readjusting its pricing, with expectations of three rate cuts possibly occurring in 2026, and the likelihood of a rate cut in April is increasing. Optimism in the crypto market is starting to show signs.In terms of derivatives, the financing rate has returned to normal, and implied volatility has narrowed to below 50. The supply of Bitcoin held by long-term holders has begun to rise again after months of decline, currently increasing to 14.3 million coins. This trend indicates that investors have started to accumulate again amid the price weakness.

According to Onchain Lens monitoring, a newly created wallet "0xcF7" received 2100 XAUT (worth 10.58 million USD) from Bitfinex.

According to Arkham data, at 20:14, 1571.35 BTC (worth approximately 108 million USD) was transferred from an anonymous address (starting with bc1qqq...) to Bitfinex.

The Bitfinex Alpha report indicates that Bitcoin's performance in January has reached its lowest level since 2022, with the market structure shifting from a distribution phase to a sustained downtrend. Currently, the $60,000 to $74,000 range is a key battleground for Bitcoin, where the market may consolidate, digest losses, and adjust positions before it can more clearly determine whether this range will serve as a rebound bottom or a brief pause before further declines.Despite the short-term momentum remaining bearish, the convergence of various capitulation signals suggests that Bitcoin is entering a stabilization phase.

Bitcoin has just recorded its largest weekly decline since the FTX collapse at the end of 2022, and the weekly RSI has risen to (or touched) levels above the pressure point following the FTX event. It is important to note that an RSI bottom does not necessarily mean that prices will bottom out simultaneously, but it does indicate that the current market is in a severely oversold condition.

As Bitcoin declines, Bitfinex's margin long positions have risen to approximately 77,100 BTC, reaching a nearly two-year high. This trend indicates that there is still significant leveraged buying in the market during the downturn. Additionally, over the past six months, the size of Bitfinex's margin longs has increased by about 64%, which is typically seen as a signal that large players or high-risk appetite funds are continuing to accumulate during periods of market pressure.However, historical experience shows that this indicator often expands during periods of market stress, but it does not necessarily mean that prices have bottomed out. Analysts believe that the current accumulation of margin longs reflects, on one hand, the market's behavior of buying on dips, and on the other hand, it may indicate that the market has not yet completed its final clearing, with short-term volatility risks still present.

According to on-chain monitoring data, the Bitfinex marked hot wallet address 0x7713...35EC transferred 400 XAUT to the Gate user deposit address 0x8e9E...73eB, equivalent to approximately $1.9664 million based on market value.On-chain data shows that in the past two days, this Gate deposit address has received XAUT multiple times from the same Bitfinex hot wallet, with single transactions concentrated in the range of 400 to 1000 coins. The related assets were then quickly transferred to the Gate hot wallet. Following a cumulative transfer of approximately $22.951 million on January 30, an additional over $6.8 million in XAUT has been transferred to Gate. From a market perspective, as the trading activity of real asset mapping products like gold tokens increases, Gate's transaction volume and liquidity in related categories continue to expand.According to CoinGlass data, Gate's XAUT (gold) spot trading volume remains among the top in the industry, and the platform's market influence in trading and liquidity support for gold-related digital assets continues to grow.

According to on-chain monitoring data from Arkham, on January 29, the Bitfinex marked hot wallet address 0x7713...35EC transferred 250 XAUT to the Gate user deposit address 0x2a0B...2F0f, equivalent to approximately $1.318 million based on market value.In the past 30 days, this Gate deposit address has received assets from Bitfinex multiple times, with a cumulative scale of approximately $22.951 million.From a market perspective, as the trading activity of real asset mapping products like gold tokens increases, Gate's transaction volume and liquidity in related categories continue to expand. According to CoinGlass data, the 24-hour trading volume of Gate XAUT (gold) spot has exceeded $92.57 million, ranking third globally.

Crypto KOL and former FTX community partner Benson Sun stated, "Bitfinex whales have significantly accelerated their accumulation recently. They are building positions of about 400 to 600 BTC daily, while the OTC desk has injected approximately 300 million USDT into Bitfinex recently. This marks the most aggressive accumulation record for Bitfinex since the market bottomed out on November 20 last year. Historically, such a pace of accumulation usually indicates two things: · The current market selling pressure is sufficient, allowing for large-scale accumulation without causing a significant impact on prices; · The capital side believes the market has entered a new phase—previously around the $88,000 mark, there was no accumulation of the same intensity. Although it is unclear what specific signals these funds are seeing, it is certain that they clearly believe that accumulating at the current price level is reasonable and cost-effective."

According to Onchain Lens monitoring, a newly created wallet received 25,001 ETH from Bitfinex, worth 73.17 million dollars.