Market Maker Strength & Bitfinex Premium Update 📊 BTC is showing strong momentum—after the second retest of STH-RP, bulls have scored another short-term win. Here’s a quick update on two key metrics I’ve shared before, combined with a TA perspective to assess where BTC stands right now. First up: liquidity conditions (see chart). The most obvious liquidity cluster (orange line, around 119K) has been tapped. Above that, aside from a new ATH, there’s no significant liquidity zone in sight. Although price is still below 119K, there’s no sign of a stop hunt. Next, two indicators developed by @coinkarma_ (from top to bottom in the chart): 1️⃣ Overall Market Maker Status (Overall LIQ) I mentioned this indicator in a previous ETH analysis (x.com/market_beggar/status/196...…). It aggregates and weights the maker status of top-cap coins to show overall market maker strength. As BTC rallies, this metric is turning more negative—meaning resistance is building up in the short to mid-term, which is typical during an uptrend. Unless we see sustained aggressive taker activity, the rally could face headwinds soon. 2️⃣ Bitfinex Premium For more details, see the quoted post below. Simply put, this compares BTC prices on Bitfinex vs. Coinbase to gauge the sentiment of OG whales on Bitfinex. Right now, the Bitfinex Premium has quickly faded, but we’re not seeing a significant discount yet. So from this angle, there’s no major risk signal. To be honest, the current BTC pump is a bit hard for me to read. Here’s my personal bias: if there’s no stop hunt at 119K, the odds of a continued move higher are solid, with the next liquidity target at a new ATH 📈. Even though I’m holding a large short and price has retraced back to my entry, credit where it’s due—the bulls look strong in the short/mid-term, and technically, I don’t see any clear obstacles to further upside (unless a stop hunt appears). Previously, in my “BTC Macro Strategy Framework” post, I expected BTC to follow Scenario 2, but right now, price action looks more like Scenario 1... 🥹 That’s the TA update for today—hope you find it helpful! Tomorrow, I’ll share an on-chain data perspective for another angle & some fresh signals. // 📚 Further Reading: Why I Never Trade Breakouts: The Trap of Liquidity Hunts x.com/market_beggar/status/190...… BTC TA: Macro Strategy Framework x.com/market_beggar/status/196...… // That’s it for today, hope this helps 🫡 Both indicators mentioned are developed by @coinkarma_—check their official site for a free 14-day trial if you’re interested! Plus, I’ve secured a special offer for my readers: From now until 10/20, new users get their first month for just $10✨ (regular price $69/mo). Just enter the code “beggar10” at checkout to get $59 off your first month 💰 If you like the tool, use my invite code from the comment section below for an extra 15% subscription extension ✅

🔗Register here for a free trial. If you like it, keep using it.👇 coinkarma.co/zh-tw/join/821184...…