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Bitfinex: Bitcoin Market May Be Entering Consolidation Phase, Not Sustained Sharp Decline
Summary: According to reports from Bitfinex Alpha, Bitcoin has experienced the third largest drop in this cycle, falling 25% from its all-time high, dropping below $94,000. Despite a strong downward trend in shorter time frames, the selling speed and actual investor losses have begun to stabilize, indicating the market may be entering a consolidation phase rather ...
According to reports from Bitfinex Alpha, Bitcoin has experienced the third largest drop in this cycle, falling 25% from its all-time high, dropping below $94,000. Despite a strong downward trend in shorter time frames, the selling speed and actual investor losses have begun to stabilize, indicating the market may be entering a consolidation phase rather than a sustained sharp decline. Currently, Bitcoin trading prices are significantly below the short-term holders' (STH) cost price of $111,900, suggesting downside risks remain until returning to that level.
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Link: Bitfinex: Bitcoin Market May Be Entering Consolidation Phase, Not Sustained Sharp Decline [Copy]
