Bitfinex report: Bitcoin falls over 30% in a single month, bottom still elusive.

A recent report from Bitfinex Alpha indicates that Bitcoin has fallen 30.6% in the past month, exceeding the 24% drop during the consolidation phase of 2024, with the bottom still elusive. Short-term holders, typically the most sensitive to price volatility, have been selling at the fastest pace since the FTX crash in 2022. Furthermore, total liquidations have surged again, highlighting the immense pressure on the perpetual contract market due to massive deleveraging. Seasonal factors are usually reliable indicators, but this time they have failed to hold true. Despite Bitcoin's average fourth-quarter gains over the past decade reaching 40%, November has seen a 21.3% drop so far, following October's first decline in seven years.