{"id":17607,"date":"2024-10-08T15:36:18","date_gmt":"2024-10-08T12:36:18","guid":{"rendered":"https:\/\/forklog.com\/en\/bitfinex-highlights-reduced-risk-of-bitcoins-sudden-drop\/"},"modified":"2024-10-08T15:36:18","modified_gmt":"2024-10-08T12:36:18","slug":"bitfinex-highlights-reduced-risk-of-bitcoins-sudden-drop","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitfinex-highlights-reduced-risk-of-bitcoins-sudden-drop\/","title":{"rendered":"Bitfinex Highlights Reduced Risk of Bitcoin’s “Sudden Drop”"},"content":{"rendered":"

The decline of Bitcoin from $66,500 to $60,000 last week is seen as a “healthy pullback” that reduces the risk of a “sudden drop” in the coming days and weeks, according to Bitfinex<\/a>.<\/p>\n

Experts observed a 10% drop as a sign of “cautious sentiment” among investors. They believe buyers may still seek opportunities to consolidate larger volumes of coins at lower prices.<\/p>\n

Analysts noted that since October 1, long positions worth over $450 million have been liquidated, and open interest in derivatives has fallen from $35 billion to $31.8 billion.<\/p>\n

\n

“Such a wave of forced position closures indicates that the market is largely oriented towards growth using leverage, as we surpassed the important level of $65,000,”<\/em> the review states.<\/p>\n<\/blockquote>\n

Specialists expressed optimism about the future trajectory, citing expectations of a policy easing by the Fed<\/span> in November. As a “hint” for short-term direction, they suggested waiting for the determination of the US stock market’s dynamic vector.<\/p>\n

Crypto ETFs<\/strong><\/h2>\n

On October 7, inflows into spot Bitcoin ETFs amounted to $235.2 million, according to SoSoValue<\/a>. In the previous week, investors withdrew $301.5 million from the products.<\/p>\n

\"1-1245\"
Data: SoSoValue.<\/figcaption><\/figure>\n

Clients added $103.7 million to Fidelity’s FBTC and $97.9 million to BlackRock’s IBIT.<\/p>\n

The cumulative inflow since the approval<\/a> of BTC-ETFs in January has increased to $18.73 billion.<\/p>\n

Spot Ethereum ETFs recorded zero dynamics for the second time in history.<\/p>\n

\"2-909\"
Data: SoSoValue.<\/figcaption><\/figure>\n

The net outflow for the entire period amounts to $553.7 million.<\/p>\n

The cumulative outflow from Grayscale Ethereum Trust (ETHE) is estimated at $2.96 billion.<\/p>\n

In September, spot exchange-traded funds based on the first cryptocurrency saw a shift from a net sale of 5,000 BTC to the largest purchase since July of 7,000 BTC, according to CryptoQuant.<\/p>\n

As reported by Glassnode, Bitcoin product holders demonstrated resilience amid the correction.<\/p>\n","protected":false},"excerpt":{"rendered":"

The decline of Bitcoin from $66,500 to $60,000 last week is seen as a “healthy pullback” that reduces the risk of a “sudden drop” in the coming days and weeks, according to Bitfinex. Experts observed a 10% drop as a sign of “cautious sentiment” among investors. They believe buyers may still seek opportunities to consolidate […]<\/p>\n","protected":false},"author":1,"featured_media":17606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[95,569,1224,1145],"class_list":["post-17607","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitfinex","tag-etf","tag-macroeconomics","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"7","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/17607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=17607"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/17607\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/17606"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=17607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=17607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=17607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}