Something is off about the Bitfinex order book. There's only like 4k btc on the ask side. To me it seems like someone that is a market maker with a ton of coins took all of their asks out.
Edit: 1 minute ago there was 4600 btc total on the ask side, now there is 3400
Edit: 1 minute ago there was 4600 btc total on the ask side, now there is 3400
Bitfinex Order books are liar order books.
If you have a leveraged position for example, you can create as many Stop Loss or Limit orders as you like, and they will all show up in the order book. This gives the wrong impression of great market depth and strength or weakness in a particular trend. BTC-E is just as bad for its magic vanishing walls.
Bitfinex is not to be paid much attention to. Biggest, most solid, most reliable exchange, Bitstamp, is where the market is at. Had the 10K whale chose either Bitfinex or BTC-e to offload his bTC, then the price there would have hit sub $100 for sure. Bitstamp absorbed it at $514.




