Bitfinex Alpha #156 - Community Summary
BY BITFINEX COMMUNITYBitfinex Alpha: Beware of Profit Taking
đź“„ Read the full Bitfinex Alpha report in English here:
https://blog.bitfinex.com/wp-content/uploads/2025/05/Bitfinex-Alpha-156.pdf
Or explore the key highlights from this edition below:
Bitcoin has rallied over 50 percent from its post-January low, reaching $111,880, and is now consolidating gains. The rise is underpinned by structural buying—fuelled by strong ETF inflows, spot market activity, and positive realised cap growth—rather than speculative excess. Even amid renewed macro risks, such as potential 50 percent US tariffs on European imports, Bitcoin has held firm, absorbing profit-taking and unwinding leverage without major downside.
This resilience marks Bitcoin’s growing alignment with global liquidity trends and macro sentiment. Institutional moves such as Metaplanet’s $104 million BTC purchase and crypto-friendly legislation proposed in Michigan strengthen this evolving narrative.
Macroeconomic Factors
The US faces mounting financial pressures: long-term Treasury yields are rising and the dollar is weakening due to debt concerns, credit downgrades, and tariff uncertainty. Ten-year and thirty-year yields now exceed 4.5% and 5%, signalling market scepticism over fiscal stability.
The steepening 30Y/10Y yield curve, often a positive signal, now points to deeper structural risks. Foreign demand for bonds is falling, and with reduced Fed support, markets are bracing for prolonged high-rate conditions and greater volatility.
Crypto Industry Developments
Institutional adoption surged last week. Firms including Strategy, Metaplanet, and Semler Scientific collectively bought over 8,800 BTC. Strategy alone now holds more than 2.7% of total BTC supply, reinforcing the view of Bitcoin as a corporate treasury reserve.
On the Web3 front, FIFA announced plans to launch its own blockchain on Avalanche, shifting away from previous partnerships with Algorand and Polygon. This EVM-compatible network will allow broader access to digital collectibles and support FIFA’s long-term Web3 ambitions.
đź“Š Check out the full Bitfinex Alpha report in English:
https://blog.bitfinex.com/wp-content/uploads/2025/05/Bitfinex-Alpha-156.pdf
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