A recent report by Bitfinex’s research team suggests that while Bitcoin's overall market structure remains robust, there is a phase of stagnation. Significant price increases are expected to occur only with a new wave of demand.
Current State Analysis of Bitcoin
Recent data shows a decline in Bitcoin's transaction volume and network activity. The report elaborates on consolidation or a local peak trend in transaction orders and network metrics. There is a noted weakening of buying pressure in the order book, a decrease in volumes, and a rise in profit-taking among short-term investors.
Expectations and Possible Scenarios
According to Bitfinex researchers, while Bitcoin might witness short-lived upward movements, prices are more likely to remain within a certain range. The study asserts that a new wave of demand is essential for Bitcoin to reach all-time highs. Macro recovery, strong fund inflows, or increased global market liquidity could act as catalysts for a surge. The Bitfinex Research Team stated: "Bitcoin is currently in a waiting phase. It maintains its structural position, and as long as it stays above the $94,000-$99,000 range, there is no significant risk of a breakdown."
Overall Market Outlook
While anticipation prevails in the Bitcoin market, stakeholders await a major catalyst to revive the market. Investors’ attention appears focused on external factors and new fund flows that may influence the market structure. The tariff-related process will conclude on July 9, and with the U.S. market opening, employment data will reveal tariff effects. A new story or development is necessary for Bitcoin's price movements to exhibit sharp upward or downward shifts in the short term.
Overall, the Bitcoin market remains in anticipation of new drivers for movement. Investors must track external developments that could influence the market, especially if Bitcoin breaks key support levels.
