The Bitfinex exchange has published a report evaluating Bitcoin’s potential recovery over the coming weeks, contingent on certain conditions.
Details of the Bitfinex Report
According to the report, Bitcoin typically experiences shallow pullbacks of around 18% to 22%, but this time it has faced nearly a 30% decline from its record peak. This suggests a deviation from previous bullish patterns. The report emphasizes that if stability is achieved at threshold levels, a price reaction could occur.
Short-Term Expectations in Cryptocurrency
The report states that ETF flows, macroeconomic developments, and the market’s liquidity status will be crucial in Bitcoin’s recovery process in the coming weeks. The reintegration of institutional investors could contribute to a price increase. It also points out that investors holding BTC over the past 180 days are currently in a losing position.
Factors Influencing Recovery
The analysis indicates that Bitcoin’s recovery could depend on maintaining the current correction level. Investors should closely monitor ETF flows and macroeconomic indicators to reassess their risks in line with short-term movements.
Bitcoin's recovery may depend on various factors, including maintaining stability at certain levels and institutional investors' market activity.
