Reserve

2024

Bitcoin

<p>Bitfinex announces a potential turning point for Bitcoin. According to experts from the crypto exchange, the derivatives market suggests that Bitcoin prices may have reached a local bottom and are showing signs of stabilization. In a context of constant fluctuations and mixed sentiments among investors, this news could bring a spark of stability and optimism for the future of the queen of cryptocurrencies.</p>
<h2 id="h-market-indicators-reveal-bitcoin-stabilization">Market indicators reveal Bitcoin stabilization</h2>
<p>Bitfinex analysts have observed encouraging signs indicating that the price of Bitcoin may stabilize after a period of intense volatility. After hitting a local low at $53,219 last week due to fears related to Bitcoin sales by the German government and <a href="https://www.cointribune.com/en/crypto-mt-gox-finally-repays-its-creditors-after-ten-years-of-waiting/" target="_blank" rel="noopener noreferrer nofollow">Mt. Gox creditors</a>, the queen of cryptos bounced back above the $57,000 mark. This rebound was accompanied by a significant decrease in price fluctuations.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p><a href="https://blog.bitfinex.com/bitfinex-alpha/bitfinex-alpha-btc-local-lows-look-close-but-beware-news-agenda/" target="_blank" rel="noopener noreferrer nofollow">Derivatives market data</a> show a reduction in the spread between implied and historical volatility, by almost 90%, signaling that traders anticipate a period of more stable prices. Additionally, the short-term holder spent output profit ratio (SOPR) being at 0.97 indicates that these sales are currently at a loss, which could reduce selling pressure and favor price stabilization.</p>
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <div class="entry-content-asset">
   <div class="social-embed-container">
    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <p lang="en" dir="ltr">Recently, the German government transferred a large portion of its <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> holdings to various exchanges, briefly driving the price under $55,000<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c9.png" alt="📉" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>While many attribute the recent sharp drop in <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> prices to this action, <a href="https://twitter.com/hashtag/Bitfinex?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitfinex</a> analysts contend that its market impact was… <a href="https://t.co/zt2pdJZBCK" rel="noopener noreferrer nofollow">https://t.co/zt2pdJZBCK</a></p>— Tide Groups (@TideGroups) <a href="https://twitter.com/TideGroups/status/1810638370261074426?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 9, 2024</a>
    </blockquote>
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
   </div>
  </div>
 </div>
</figure>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://partner.bybit.com/b/1996342" target="_blank" rel="noopener noreferrer nofollow">Discover the Bybit trading platform</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<h2 id="outlook-for-the-bitcoin-market">Outlook for the Bitcoin market</h2>
<p>As Bitcoin shows signs of stabilization, the implications for the market are manifold. Bitfinex analysts note that despite recent fluctuations, long-term holders continue to profit from their positions, which is a positive indicator for the overall health of the market. In contrast, short-term sales, which seem to be waning, suggest that selling pressure could diminish, thus offering a more stable environment for prices.</p>
<p>Additionally, Citi Bank’s forecasts regarding <a href="https://www.cointribune.com/en/bitcoin-imminent-impact-of-the-feds-interest-rate-reduction/" target="_blank" rel="noopener noreferrer nofollow">rate cuts by the US Federal Reserve</a> add an extra dimension to this analysis. A series of rate cuts, expected to start in September, could inject a new wave of liquidity into financial markets. This dynamic could translate into renewed interest in risky assets such as Bitcoin, thereby strengthening its position in the market.</p>

Bitcoin Should not Fall Further and Could Rebound According to Bitfinex

目录

Cointribune EN

发布于 2024年7月9日的其他文章

Top Cryptocurrency Picks: BlockDAG’s 1300% Spike Poses a Challenge for Render and Arbitrum

Worldcoin invites devs to build ahead of mainnet launch in 2024

Is the Meme Coin Craze Back? Binance Trading Data Suggests Yes

Polygon (MATIC) Price Rise Could Stem from Losses

Crypto Investors Splurge on BlockDAG’s Miners With 30,000x ROI Potential Leaves Ethereum Classic ...

Phoenix Memecoin ($PHNX) Launches with Innovative Tokenomics and Community Focus (9 Jul)

订阅我们免费的电子期刊，获取每日最新加密领域动态！