movement of Bitfinex whales

movement-of-Bitfinex-whales

all exchange leverage ratio has once again reached an all-time high (Image 1).

However, Binance, which holds a significant market share, has seen its leverage ratio drop to levels last seen during last year’s consolidation phase (Image 2).

This is because the leverage ratio on Bitfinex has been rising sharply within the consolidation range (Image 3).

Bitfinex's open interest reached a new all-time high yesterday (Image 4).

Players utilizing Bitfinex are showing sudden movements within the consolidation phase.

While leverage ratios alone do not determine market direction, such sharp movements are emerging in an otherwise quiet market.

What kind of movement are the Bitfinex whales aiming for?