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$67,800 is where the average $BTC buyer of the last 5 months breaks even. After 8 weeks of falling, that level rose last week. STHs accumulated at prices above their aggregate cost basis, pulling the average higher. Hold above $67,800-$68,500 and resistance becomes the floor.

$ETH is outperforming bitcoin right now. The ETH/BTC ratio hit a six-week high on 27 July, and every dip this month has brought higher lows. Ether is gaining in price as well as in ETF flows.

Options exert a smile. Away from the money, implied vol for puts tends to be more expensive than implied vol for calls. So could you sell an expensive put, buy a cheaper call, and use delta hedging to remove underlying price risk to capture the IV spread? Is this an arbitrage?

@zerolore 🫡

A $71m outflow hit $ETH ETFs on Friday, the week's only red session. The week still closed $104m positive, a third straight week of inflows after two months of redemptions. This week opened with another inflow, straight into Wednesday's Fed decision.

No conditions, no tiers.

Most borrowing platforms set the rate for you. On Bitfinex Borrow, the rate comes from the P2P funding order book. Lenders compete. You get matched at the rate that works for you. Bitfinex Borrow guidelines here 👇 bitfinex.com/borrow/

$BTC doesn't have to fall just because stocks do. Bitfinex analysts in @CoinDesk: bitcoin trades with equities on macro, rate-driven stress and "decouples" on shocks specific to the equity market. coindesk.com/markets/2026/0…

Two weeks ago the macro question for $BTC was when the Fed cuts. Now futures put a hike on Wednesday at 34%, up from 13% a week ago. With officials in blackout since 18 July, the repricing has run unchallenged. For bitcoin, the statement will matter more than the decision.

$BTC pulled back 4.87% last week as short-term holders sold near breakeven. The cost basis stopped decaying at $68,500. A move above it now needs fresh demand, and the ETF bid has gone. Bitfinex Alpha 215 breaks down what changes the picture. go.bitfinex.com/Alpha215

The $BTC carry trade has stopped paying. Basis held under 5.5% annualised all year and fell below 2% last month. CME futures open interest has followed it to its lowest since the ETFs launched in early 2024. Funding is ticking up. Basis has to widen for the trade to return.

$BTC ETFs closed the week with $465m out across Thursday and Friday, ending a seven-session, $1bn inflow run, as odds of a hike at Wednesday's FOMC moved from 12% to 38%. Whether the buying resumes is Wednesday's question.

.@ArkLabsHQ and @secondhq have implementations of Ark live on Bitcoin mainnet. @lightning's Wavelength toolkit uses a similar design. A protocol once thought to need changes to Bitcoin itself now runs entirely on existing primitives. go.bitfinex.com/BuildingOnArkX

@utexocom 💃🕺

450+ business integrations in the pipeline 50+ confirmed launch partners next week we start dancing USDT on Bitcoin

A long straddle strategy that doesn't bleed? You're right to be suspicious. Let's turn it into a challenge. What's the strategy: • Long weekly BTC straddles • Entry - Saturday 8AM UTC • Exit - Monday 8AM UTC So you hold the straddle for two days over the weekend, and sell Monday with four days to expiry left, while midweek you have no position on. Note that you're also not delta-hedging the straddle. Rinse and repeat each week. Provide a one-line answer to: 1. Which Greek drove the P&L? 2. Why was that Greek profitable? 3. How to test against data-mining? Focus on option dynamics, ignore transaction costs. Best answer gets: • Lifetime lower fees - 1 bps options, maker and taker • 100x funded account - deposit 10 USDt, trade 1K How to participate: Reply or DM your answer before Sunday 26 July, 23:59 UTC.

Bitfinex added a core licence in El Salvador, completing coverage across spot, derivatives and securities. @paoloardoino, CTO: "Holding licences across our spot, derivatives and securities businesses reflects our long-standing commitment." blog.bitfinex.com/announcements/…

$BTC ETFs have posted seven straight sessions of net inflows, the longest run in 21 weeks. ETF flows are the primary demand engine, correlated with 30-day returns since launch. We are now approaching $68k resistance, a break above needs this inflow run to continue.

$BTC is pressing toward the upper Donchian band at $66,990 on the daily chart after weeks of compression. A close above it would be the first upper band breakout since May. Donchian Channels on Bitfinex are built to flag exactly this moment. go.bitfinex.com/donchianchanne…

$BTC put/call open interest is 0.56, the lowest of 2026. Traders are taking off downside protection. Implied volatility is still under 40%, with FOMC next week. And with traders not paying up for tail risk, this could mean sentiment is improving.

Where does $BTC go from here? Bitfinex Alpha highlights the levels that may impact bitcoin's next move: blog.bitfinex.com/bitfinex-alpha…