{"id":125251,"date":"2025-03-17T21:16:27","date_gmt":"2025-03-17T21:16:27","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125251"},"modified":"2025-03-17T21:16:27","modified_gmt":"2025-03-17T21:16:27","slug":"bitcoin-sees-30-retracement-as-selling-pressure-increases-bitfinex","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125251","title":{"rendered":"Bitcoin sees 30% retracement as selling pressure increases \u2014 Bitfinex"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin (BTC) has undergone its second-largest correction of this bull run, according to analysts at crypto exchange Bitfinex. The correction, from the coin\u2019s all-time high of $109,590 set on Jan. 20 to a low of $77,041 during the week of March 9-15, represents a 30% retracement triggered by selling pressure from short-term holders.<br \/>\nIn its report, Bitfinex defines short-term holders as those who have bought within the last seven to 30 days. According to the exchange, they have suffered net unrealized losses and are often more subject to capitulation.<br \/>\nBitfinex notes that ongoing outflows from Bitcoin ETFs, which totaled around $920 million during the week of March 9-15, suggest that institutional buyers have not yet returned with enough strength to combat selling pressure.<br \/>\nBitcoin capital flow by short-term holders. Source: Glassnode\/BitfinexTrading at around $84,357, Bitcoin has rebounded 9.5% from its low. According to Bitfinex, a key factor moving forward will be whether institutional demand picks up at these lower levels, potentially leading to supply absorption and price stabilization.<br \/>\n\u201cWhile institutional flows and the macro situation is pivotal for market direction in the mid-term, statistically, a 30 percent drawdown has often marked the low before continuation higher,\u201d Bitfinex analysts told Cointelegraph. \u201cIf Bitcoin stabilizes around this level, history suggests a strong recovery could follow.\u201d<br \/>\nBitcoin ETPs see $5.4B in outflows over five weeks<br \/>\nWeekly outflows from crypto exchange-traded products (ETPs) have reached a streak of five weeks, totaling $6.4 billion as of March 14. According to data from CoinShares, Bitcoin ETPs have borne the brunt of outflows, with $5.4 billion in losses.<br \/>\nThe current macroeconomic climate may be weighing on the markets, according to Bitfinex. US consumer confidence has fallen to its lowest level in two years, and there are expectations of higher inflation along with economic uncertainty. On March 4, a Federal Reserve\u2019s model predicted that the US economy would shrink by 2.8% in the first quarter of 2025.<br \/>\nMeanwhile, talks of trade wars continue to dominate the news, putting Bitcoin\u2019s status as a safe-haven asset in doubt, keeping miners on their toes, and perhaps putting the bull market in peril \u2014 despite the White House\u2019s recent announcement of a US Bitcoin strategic reserve and digital asset stockpile.<br \/>\nMagazine: X Hall of Flame, Benjamin Cowen: Bitcoin dominance will fall in 2025<a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-30-retracement-selling-pressure-bitfinex?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin (BTC) has undergone its second-largest correction of this bull run, according to analysts at crypto exchange Bitfinex. The correction, from the coin\u2019s all-time high of $109,590 set&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125251"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125251"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125251\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125251"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}