Bitfinex Whale Activity Increases As Bitcoin Approaches $100k—Further Surge Ahead?
Summary
Bitcoin's price is recovering, nearing the $100,000 mark, currently at $98,091, reflecting a 2.6% increase over the past week. Significant activity among large holders on exchanges indicates a shift in market dynamics. The "all exchange leverage ratio" is at an all-time high, suggesting increased trading activity. On Bitfinex, leverage ratios have surged alongside rising open interest, indicating heightened whale movements. This uptick may signal potential price shifts, although no definitive direction is guaranteed. Bitcoin remains approximately 8.7% below its all-time high of over $109,000. A strong demand zone has formed just below the current price, which could provide support against further downward pressure.
