Bitcoin Nears Potential Bottom as Market Recovers
Bitcoin Nears Potential Bottom as Market Recovers
š„ Bullish Signals?
As the cryptocurrency market recovers from last week's correction, analysis suggests Bitcoin may be nearing the bottom of its current trading range. The recent 17.5% pullback from Bitcoin's all-time high hints at a potential local bottom, as corrections typically cap at 20-24%. Experts remain optimistic despite negative outflows from the Grayscale Bitcoin Trust (GBTC). Analysis indicates a possible floor for Bitcoin around $56,000, aligning with short-term holder realized prices and ETF investor cost bases. While Bitcoin grapples with volatility, the altcoin market has shown resilience, with the Total3 index hitting a new cycle high, signaling growing investment flows into altcoins.
In Bitfinex Alpha, we see #Bitcoin dominance stabilizing around 51%, hinting at the possibility of a new altcoin season. Meanwhile liquidity in the top 20 altcoins has increased, smaller coins may be seeing a decline. Dive into the details: go.bitfinex.com/Alpha93T
As the market recovers from last week's correction, we're honing in on the bottom of the current trading range. š The recent pullback in #Bitcoin, around 17.5% from its ATH, hints at a local bottom. Dive into the details š blog.bitfinex.com/bitfinex-alphaā¦
āInvestors perceive #Bitcoin as a store of value rather than a tradable volatile asset, which has been the case for several years before the introduction of the ETFs.ā Get the details from Bitfinex analysts š kitco.com/news/article/2ā¦
Today marks a significant milestone for #FinancialFreedom as we celebrate a new all-time high for #Bitcoin! š As the original $BTC exchange, Bitfinex is optimistic about the future. Together, we unlock new levels of financial freedom. š Learn more: bitfinex.com/manifesto/
In the last 7 days, #Bitcoin is up 21%, #Ether is up 17% and volumes on Bitfinex are up 243%. No disruptions to trading, no load issues, all systems firing. š„ bitfinex.com
"Our analysis forecasts a conservative Bitcoin price objective of $100,000 to $120,000 to be achieved by Q4 2024, with the cycle peak expected to occur sometime in 2025 in terms of total cryptocurrency market capitalization." - Bitfinex Alpha cointelegraph.com/news/bitcoin-bā¦
New highs for #Bitcoin and #Ethereum! š $BTC soaring past $70K and $ETH hitting over $4K āļø The future of decentralized finance is looking brighter than ever! Embrace #financialfreedom with Bitfinex: buff.ly/2G9bak2
#DeFi lending protocols reach new heights, signalling market confidence and maturity. Security and transparency pave the way for continued growth. š go.bitfinex.com/Alpha94T
846 days in the making, we have hit a new ATH for #Bitcoin on Bitfinex! š Where does the rocketship head next? a. Next stop: $75K! b. Skyās the limit! š c. To the moon! š
#Bitcoin $60,000 and climbing! š Trade with the whales on Bitfinex #FinancialFreedom š
The #Bitcoin and #Ether markets are looking positive š Bitcoin ETFs saw $600M inflows last week and record amounts of BTC are leaving exchanges š„ Read more in Bitfinex Alpha: go.bitfinex.com/Alpha93T
$ETH hit a new high but watch the options market. Get more details in Bitfinex Alpha! go.bitfinex.com/BFXAlpha92 x.com/TheBlock__/staā¦
Ether put options concentrate at $2,200. Is it a hedge or a bearish indicator? theblock.co/post/278204/etā¦
#Bitcoin soared to an ATH of $73,666 on March 14th, only to experience a sharp pullback of over 12.5%. Alts however were more resilient and not so influenced by BTC movements ā Discover how BTC and Alts might be on separate paths: buff.ly/43mtIEE
āOur analysis forecasts a conservative price objective of $100,000-$120,000 to be achieved by Q4 2024, and the cycle peak to be achieved sometime in 2025 in terms of total crypto market capitalization,ā - Bitfinex analysts x.com/CoinDesk/statuā¦
$BTC cash and carry arbitrage offers a significantly higher yield than U.S. Treasury notes and could draw more money to the crypto market. reports @godbole17. trib.al/MfMOZ95
Bitfinex Alpha predicted it: "#Bitcoin is now poised to achieve a new year-to-date high. This uptrend coincides with a period of reduced outflows from @grayscales' GBTC and a general increase in inflows into digital asset funds." theblock.co/post/277146/biā¦
The bullish momentum behind BTC continues š Bitfinex Alpha reports Open Interest in #Bitcoin futures have reached over $26 billion, a new high. We see the trend continuing as more allocations are made to the BTC ETFs. Dive into the details: go.bitfinex.com/Alpha94T
Bitfinex Alpha predicted it: "Bitcoin is now poised to achieve a new year-to-date high. This uptrend coincides with a period of reduced outflows from @grayscales' GBTC and a general increase in inflows into digital asset funds." theblock.co/post/277146/biā¦
#Bitcoin stays resilient - hitting a new year-to-date high š„At $52,700, $BTC is up 25% since January, just 28.6% shy of its all-time high! Read more about the BTC bull in Bitfinex Alpha: ow.ly/ISAq50QFiHA
Bitcoin Bounces Back as ETF Flows Turn Positive
Bitcoin recovered from $112K lows to $115.8K, driven by a shift from ETF outflows to $769M net inflows over 3 days. The recovery was supported by crypto treasury firms holding nearly $90B in assets. Key points: - Price broke above $119.5K resistance level - Previous week saw $1.1B in long liquidations - Market showing resilience despite recent volatility The bounce suggests institutional confidence remains strong despite recent market turbulence. However, traders should monitor if the price can maintain momentum above key resistance levels.
Bitfinex Hosts AMA with Polygon CEO to Discuss MATIC to POL Transition
Bitfinex announces an exclusive AMA session with Polygon CEO Sandeep Nailwal on August 8 at 6PM UTC via Telegram. Key Details: - Focus on Polygon's transition from MATIC to POL token - Hosted by BitFreedomGus on Bitfinex's Telegram channel - Community members can submit questions in advance The AMA will provide insights into Polygon's strategic rebrand and future developments. Join the discussion at [Bitfinex Telegram](https://t.me/bitfinex).
Liquid Network Launches Simplicity Smart Contract Language for Bitcoin
Blockstream's Liquid Network has introduced Simplicity, a new smart contract programming language designed specifically for Bitcoin. This development represents a significant step in expanding Bitcoin's smart contract capabilities. Key points: - Simplicity offers a secure and flexible alternative to Ethereum's Solidity - The language enhances Liquid Network's technical capabilities - Integration enables smart contract functionality while maintaining Bitcoin's security model Learn more about Simplicity's features and potential impact on the Bitcoin ecosystem in the [official announcement](https://blog.bitfinex.com/education/what-can-simplicity-bring-to-the-liquid-network/)
Latin American Institutions Eye Crypto Adoption Amid Regulatory Challenges
Latin American financial institutions show growing interest in digital assets, though regulatory uncertainty remains a key barrier to widespread adoption. - El Salvador's clear regulatory framework serves as a model for regional development - Colombia sees expansion in institutional participation, tokenization initiatives, and stablecoin usage - Bitfinex Business Day and CriptoLatinFest events highlight growing infrastructure development The region demonstrates strong potential for crypto integration, particularly in institutional settings, as regulatory frameworks continue to evolve. [Watch the full discussion](https://youtu.be/TPlCkp95vo8)
SEC Launches Project Crypto to Modernize US Digital Asset Regulation
SEC Chair Paul Atkins has announced Project Crypto, a comprehensive initiative to modernize U.S. securities regulation for the blockchain era. The project aims to address regulatory ambiguity that has pushed innovation offshore. Key components include: - Framework for tokenized securities and stablecoins - Support for compliant ICOs and airdrops - Updated custody rules affirming self-custody rights - Regulatory structure for crypto super-apps - Innovation exemptions for new technologies The initiative acknowledges growing institutional interest in tokenization from Wall Street firms and tech companies. Project Crypto seeks to position the U.S. as a leader in tokenized finance while maintaining appropriate regulatory oversight.