Any thoughts on this? The most obvious theory is that market forces are finally taking advantage of the arbitrage: buying BTC from elsewhere, moving it to Bitfinex, selling it for USDT, and then cashing out that USDT successfully. Maybe as soon as USDT withdraws hit a wall, the premium will begin spiking again?
However BTC continues to heavily flow outwards from Bitfinex cold wallets, so it would appear value is still leaving their exchange. Not sure how to interpret this. Any ideas?submitted by /u/meowthdat