Market Analysis
Leverage long Bitcoin positions at Bitfinex hit a 6-month high, but data shows the bullish sentiment is mostly shared among risk-loving traders.
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Bitfinex News
The Bitfinex exchange is a popular platform for exchanging cryptocurrencies, also hosting spot and derivatives trading as well as certain lending, borrowing and staking features. Bitfinex came into existence in 2012. Bitfinex fees for spot trading are 0.10% for maker orders and 0.20% for taker orders. For derivatives trading, maker orders give customers a 0.02% rebate, while taker orders incur a 0.075% fee. Trading fees vary for each customer based on their trading volume and activity. Bitfinex also has its own utility crypto token called Unus Sed Leo (LEO). Because it restricts a number of regions, Bitfinex U.S. customers are not allowed. On Bitfinex, KYC and Anti-Money Laundering procedures are employed.
Back in 2016, there was a Bitfinex hack in which 119,756 Bitcoin (BTC) was stolen. Back then, 119,756 BTC was valued at about $72 million total.
- Price Analysis
Bitcoin is trying to form a higher low at $85,000, but the recovery attempt faces stiff resistance at $90,000, signaling a tough battle between the bulls and the bears.
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The US Strategic Bitcoin Reserve will initially be funded by Bitcoin forfeited to the Treasury, which controls an estimated 198,109 Bitcoin forfeited or seized in criminal cases.
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Bitcoin struggles to overcome $90,000 as bears attempt to hold the level as resistance, but BTC and altcoin charts suggest the upside is the most likely path that prices will take.
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The trader bought 70,000 Bitcoin during the FTX collapse when the price varied between $40,000 and $16,000.
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Bitfinex analysts said Bitcoin is mirroring traditional markets, and its lack of price momentum has “led to a period of contraction” for crypto markets.
28848 - Market Analysis
Analysts speculate that the Bitcoin bull run is ready to resume after Bitfinex longs soar to $5.1 billion. Are they mistaken?
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Judge Kollar-Kotelly asked the US government to explain its position on forfeiture to the Bitfinex exchange by Feb. 4.
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Due to a prior reimbursement plan from Bitfinex, many victims of the 2016 hack do not legally qualify as victims eligible for reimbursement.
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Bitfinex Derivates says its decision to relocate to El Salvador will help turn the country into a “financial services center” for Latin America.
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Ilya Lichtenstein urged his social media followers not to blame his wife — also implicated in money laundering — for the 2016 Bitfinex hack.
4136 - Follow up
Unraveling Tether’s complex web of financial maneuvers and its impact on the global crypto market.
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The Smithsonian Institution has obtained the laptop owned by former IRS agent Chris Janczewski that was used to track down the 2016 Bitfinex hacker who stole 120,000 Bitcoin.
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Bitfinex Securities’ initial offering targets to raise a minimum of $30 million to proceed with the issuance of the token that will be traded under the ticker USTBL.
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A federal judge sentenced Heather Morgan, also known as Razzlekhan, to 18 months in prison for laundering stolen Bitcoin connected to Bitfinex.
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