Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»BITCOIN NEWS»Bitfinex Alpha | BTC Soars, But Be Careful What You Wish For
BITCOIN NEWS

Bitfinex Alpha | BTC Soars, But Be Careful What You Wish For

By Crypto FlexsDecember 5, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitfinex Alpha |  BTC Soars, But Be Careful What You Wish For
Share
Facebook Twitter LinkedIn Pinterest Email

November 13th Bitfinex Alpha | BTC Soars, But Be Careful What You Wish For

Post time: 12:13h
On Bitfinex Alpha
Posted by Tammy

A strong week saw Bitcoin retrace some of its gains after hitting $38,000, its highest since May 2022. Even at current levels of $37,000, the average purchase price (STH RP) for short-term holders is approximately $30,380. This gap between STH RP and current market prices has been most pronounced since April 2022.

However, based on past performance, STH RP’s monthly movements suggest caution. An analysis of short-term and long-term holder cohorts shows that, historically, a $2000 monthly change in STH RP has been combined with a negative change in the average purchase price for long-term holders (where it is now), which has reached a local peak and could potentially push STH RP levels higher. Indicates that a withdrawal to test is likely to follow. At current levels, this theoretically suggests the price could fall into the $30,000-$31,000 range.

It is worth noting that market volatility is also high. The recent surge to $38,000 was accompanied by a significant market clearing of $491 million on November 9 alone. This is the highest since August 17. Current circumstances suggest it would be wise to err on the side of caution.

The availability of credit and lending standards across the economy is strengthening, impacting both businesses and consumers. However, these conditions are expected to gradually ease over time. This is because it reflects a decline in demand for loans as interest rates continue to remain high.

Further complicating this situation is the significant increase in household debt, up 1.3% in the third quarter, bringing total debt to $17.29 trillion. The largest annual increase in credit card balances since 1999 (credit card borrowings rose 4.7%) is one reason for this surge. This surge in credit usage indicates an increasing reliance on debt due to financial strain.

The labor market, while showing resilience, is showing signs of gradual weakening. There has been a notable increase in ongoing unemployment claims, suggesting that people receiving unemployment benefits are having an increasingly difficult time finding new jobs.

In addition to these economic difficulties, consumer sentiment is falling at its lowest since May. This decline adds another layer of complexity to the economic outlook.

High on the news agenda and one of the catalysts behind BTC’s recent sharp rise was the news of BlackRock, the world’s largest asset manager, filing for an Ether (ETH)-based Exchange Traded Fund (ETF). This news caused a temporary surge in the price of ETH, reaching around $2,100.

More good news about the usefulness of blockchain came when JPMorgan announced that it had introduced programmable payments within its JPM Coin system. This enables automated and rapid trading for institutional clients when certain conditions are met.

Also on the payments front, Singapore-based company Dtcpay announced the launch of a new payment system that supports both fiat and cryptocurrency assets, including Tether, Ether, and Bitcoin. The new system is designed to suit both in-store and online transactions.

And finally, FTX filed a lawsuit against Bybit to recover approximately $953 million in assets withdrawn by the company shortly before FTX’s collapse. This news sparked a rapid increase in FTX’s FTT token.

First off, it’s a week of positive news. Happy trading!

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

South Africa central bank insists on the ‘old -fashioned’ exchange control law, which is still valid for encryption regulations.

June 5, 2025

Price prediction of BTC, ETH, XRP, BNB, SOL, DOGE, ADA, Sui, Hype, Link

June 4, 2025

Introduction to Krakeen Prime, a full -service prime brokerage for customer creepto customers

June 4, 2025
Add A Comment

Comments are closed.

Recent Posts

Economist Henrik Zeberg says that Altcoins is trying to start an explosive stage and updates Outlook and Under-The Radar Crypto for Dogwifhat.

June 5, 2025

How Algorand is quietly building the future of finance around the world

June 5, 2025

As the network activities are slow, Ether Room is unlikely to break $ 3,000 in the short term.

June 5, 2025

AI TOKEN LIVEPEER (LPT) cuts 150% and then falls 40% -What is the leading volatility?

June 5, 2025

NVIDIA DALI improves data processing function with new features.

June 5, 2025

Why is the ratio of cryptocurrency exchanges near Bitcoin’s lowest level of seven years?

June 5, 2025

The XRP face to unlock $ 2.2B. Are $ 2.14’s support under pressure?

June 5, 2025

Bitcoin protection zones, Stablecoin regulations are the main drivers.

June 5, 2025

BITMEX, June 10 Q3 2025 quarter gifts

June 5, 2025

More XRP metrics offer a $ 3 rally in June.

June 5, 2025

Nibiru starts the “Block Party” AURA program to compensate for actual defect activities.

June 5, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Economist Henrik Zeberg says that Altcoins is trying to start an explosive stage and updates Outlook and Under-The Radar Crypto for Dogwifhat.

June 5, 2025

How Algorand is quietly building the future of finance around the world

June 5, 2025

As the network activities are slow, Ether Room is unlikely to break $ 3,000 in the short term.

June 5, 2025
Most Popular

Why is Solana meme coin BONK soaring?

May 16, 2024

Understanding USDT and USDT0 in Sei Mainnet

April 13, 2025

Near Protocol co-founder says chain abstraction is key to mainstream adoption of cryptocurrencies.

March 30, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.