Bitfinex Whales Accumulate BTC Amid Market Drawdown and Tether Audit
Bitfinex whales are bucking the trend by accumulating Bitcoin at their highest levels since mid-February, despite a nearly 40% drawdown in the asset's price from its October 2025 peak. The large-volume traders are ignoring the broader market sentiment, which is characterized by volatility and a decline in positive sentiment among bulls.
On-chain data shows that short-term holders of Bitcoin have been selling at a loss, with their realized price sitting at $99,785. This has led to a significant amount of realized loss volume, reaching $300M per day after filtering out in-house transactions and smoothing with a 90-day SMA.
Tether's recent audit and the liquidity pool are also being closely watched. Tether reported $1.04 billion in net profit for Q1 2026 and maintains $141 billion in U.S. Treasury exposure, making it the 17th-largest holder of U.S. government debt globally. The firm also holds $20 billion in physical gold and $7 billion in Bitcoin.