BensonTWN-1

Talented people emerge in every generation,
Alpha passes down from generation to generation

Recently, I've noticed that the Chinese-speaking crypto community has started paying attention to Bitfinex data, which brings me great joy.

I began to engage with Bitfinex in 2019, when I wrote an article introducing USD lending. It became extremely popular at the time. Perhaps Taiwanese people particularly enjoy stable income methods; that article led thousands of newcomers in the crypto community to start their journey in the market through Bitfinex lending—Taiwan alone contributed at least 1/10 of the total USD lending amount on Bitfinex.

Since then, I have been continuously observing Bitfinex data until now, and I should be one of the earliest traders in the Chinese-speaking community to deeply track it.

Over the years, I have also organized four core indicators related to Bitfinex on CoinKarma to help determine:

- The turning point of the ETH/BTC exchange rate
- The initiation and conclusion of altcoin seasons
- Whether the main upward trend has officially started
- Whether conditions for bottom fishing and peak escaping are met, etc.

In short, the data from Bitfinex is truly fascinating. I'll elaborate on it slowly when I have time; it’s definitely worth discussing!

The dollar credit crisis is both an opportunity and a risk for BTC. It now appears that the 'opportunity' aspect is slightly larger. Initially, it was judged that there would be fluctuations until Q3, but the data characteristics of the main upward phase have emerged, and a few days ago, I forced myself to jump in.

When to exit, apart from looking at the funding rate and selling pressure in the order book, @coinkarma_ also has an App ranking recorded.

The blue line in the chart represents the Coinbase iOS app ranking. During the two main upward phases at the beginning and end of 2024, at the most FOMO moments, its ranking will lock in the top 5 or even top 3 positions in the financial sector (a decrease in numbers indicates an improvement in ranking). Not only Coinbase, but Binance and Upbit also have similar situations. Koreans are more enthusiastic about trading, and during market peaks, Upbit often dominates the Top 1 ranking for a long time.

Looking solely at the data, the enthusiasm in the over-the-counter market has not yet been ignited; it is likely still in a dazed state. A significant decline in the blue line is a point to watch out for.

Since @coinkarma_ was established, it is the first time that after encountering the green arrow, it has pulled back over 25% (20,000 points) without a red arrow appearing

BTC is approaching 100,000, but the pressure on the order book is not as strong as expected