Bitfinex Alpha reports deliberate market de-leveraging following Q3 gains
CIE News ·
Bitcoin posted a 42.5% Q3 gain alongside Ethereum's ~71% rise, but analysts at Bitfinex warn that sustained price advances require spot buying as derivatives leverage cools.
Bitcoin (BTC) concluded the third quarter with a 42.5% gain, but Bitfinex Alpha analysts reported on September 30, 2026, that further upside requires stronger cash spot demand as open interest fails to expand alongside prices. Derivatives desks appear to be taking profits, reducing leveraged positions even as Ethereum (ETH) ended the quarter up roughly 71% at $2,676. According to crypto.news, Bitfinex highlighted that nine consecutive days of spot exchange-traded fund inflows slowed from 25.6 times daily miner issuance down to 1.8 times, indicating that spot buyers must step in to absorb current selling pressure.