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Long-term $BTC holders are holding through the pain, not selling into it. Nearly half of all supply is now underwater, most of it held by this cohort. Their supply still hit a record in June. Bottoms come when these holders capitulate. They are accumulating instead.

Some miners switched machines off in June when $BTC fell below $60,000, and difficulty dropped 10.1%. Weeks later most of that capacity is back, difficulty up 7% on July 2.  The relief window for surviving miners is closing. The mid-July adjustment is the tell.

Bitfinex Margin Lending credits interest daily at 01:30 UTC. Not monthly or on withdrawal. For traders who understand compounding, that difference adds up. bitfinex.com/margin-lending

Two tokenised products can share the same three-letter label and almost nothing else. What you own can differ completely, from the issuer to the claim to how returns are made. Before treating one RWA as comparable to another, look behind the token... blog.bitfinex.com/industry-n…

$BTC cleared its biggest options expiry of the year, and the $60,000 put wall expired with it, leaving that floor unprotected. Skew is put-dominant, with traders paying premiums for downside protection. The next real support is realised price near $53,000.

The word "blockchain" was never mentioned in the Bitcoin whitepaper. Who said it first?

This is why El Salvador is home for Bitfinex

Selling ∆-hedged straddles remains hard to beat. One-year backtest updated to June: • Sell 7 dte straddle Friday 8AM • Delta-hedge every 24 hours • $100k constant notional Similar result as in May: • $30K cumul P&L • 1.99 Sharpe The beauty is: • You know you have edge (VRP) • Drawdowns are ok if you ∆-hedge • You can trade it systematically Hardest part is to control your discretion: • Strait of Hormuz closes -> sell vol • STRC loses par -> sell vol • BTC loses 60k -> sell vol Keep it simple, trust your system. Should take 10 min's each week.

Your turn.

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Margin trading already carries a funding cost. Adding a taker fee compounds the drag before the position moves. Margin trading fees on Bitfinex are zero at both entry and exit.

While $ETH sits near its lows, the fundamentals are tightening. Validator entry queue near 3m ETH, exits near zero. ETH is leaving liquid supply to earn yield. A quiet supply squeeze, building underneath the surface while price drawdowns make headlines.

June was the worst month on record for US spot bitcoin ETF flows, $4.06bn of net redemptions, the deepest day near $650m. A net-inflow week, not a single green day, is the first sign that turns.

Headline inflation should ease as oil falls below $70, a multi-month low. Core is the one that matters to the Fed, and it is stuck at 3.4%. Cheaper oil will not pull core down. Rates stay higher-for-longer, and $BTC keeps trading against that pressure.

Full breakdown ⤵️ blog.bitfinex.com/bitfinex-a…

▫️Strategy execution: any filing disclosing sales under the $1.25bn authorisation, and STRC trading relative to par into the 12% step-up ▫️Perpetual OI against price: whether OI rebuilds on the long side into any bounce or the next leg arrives on fresh spot selling

The signals that matter next: ▫️The $54k realised-price line: daily closes near it test whether it draws bids or gives way to the first sub-realised-price move of the cycle ▫️ETF flow direction: a genuine net-inflow week is the first evidence the dominant seller has paused

Six levels define where $BTC stands right now.

"El Salvador has pursued a deliberate policy of becoming a serious home for regulated digital asset infrastructure, and that is paying off." - @paoloardoino, CTO of @bitfinex Bitfinex now holds licences across spot, derivatives, and securities in El Salvador.

Quanto-Capital tops the Bitfinex leaderboard again. $211K in realised profits for the second consecutive month. See where the rest of the top traders finished👇 go.bitfinex.com/Leaderboard