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Bitfinex Report: Cryptocurrency Market May Be in Late Correction Phase, September Could Become Cyclical Low Point
Summary: According to reports from Bitfinex Alpha, Bitcoin has fallen below $110,000, dropping over 13% from its all-time high of $123,640. While this decline is significant from a technical standpoint, historical patterns and seasonality indicate that the market is actually in the late phase of a correction. The market capitalization of altcoins is currently stagnant, with ...
According to reports from Bitfinex Alpha, Bitcoin has fallen below $110,000, dropping over 13% from its all-time high of $123,640. While this decline is significant from a technical standpoint, historical patterns and seasonality indicate that the market is actually in the late phase of a correction. The market capitalization of altcoins is currently stagnant, with fluctuations in any altcoin indicating fund rotation rather than expansion. As speculative excess fades due to seasonal ETF fund inflows, September could become a cyclical low point, with structural driving factors coming into play thereafter to drive recovery in the fourth quarter. In addition to these macroeconomic changes, regulatory developments and the evolution of the cryptocurrency market highlight broader financial support for this asset class.
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Link: Bitfinex Report: Cryptocurrency Market May Be in Late Correction Phase, September Could Become Cyclical Low Point [Copy]
