Bitcoin Faces Deeper Reset Risk as Bitfinex Warns of $70K Drop

Bitfinex warned that bitcoin risked a prolonged decline as weak fund flows, uneven corporate demand, and broader market pressures tested its recovery. The exchange also flagged growing futures exposure and steeper altcoin losses. Crypto exchange Bitfinex warned Nov. 11 that bitcoin risked a deeper reset, meaning a prolonged decline, after four days below its $75,717 short-term holder cost basis . That level represented the estimated average acquisition price of coins held for fewer than 155 days. Regaining it was central to the exchange’s recovery assessment. Among 14 comparable episodes since 2016, bitcoin regained the threshold within two weeks in 11 cases; three took 57 to 114 days. The current break began Nov. 8, making Nov. 22 the two-week checkpoint. Bitfinex stated: Prices rebounded above $74,600 around 12:25 p.m.

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