PANews July 1 news, according to Bitfinex Alpha report, Bitcoin is currently consolidating in the range of $100,000 to $110,000, having risen nearly 50% from the low of $74,600 in April. Recent price fluctuations have narrowed, reflecting a cooling of on-chain and derivative market activities, with spot trading volume decreasing, buying pressure weakening, and open interest contracts declining by more than 7%, indicating that the market is transitioning from a strong upward movement to a consolidation phase. The realized price for short-term holders is approximately $98,700, which has attracted buying multiple times recently as a key support level.
Looking ahead, historical data shows that Bitcoin typically performs weakly in the third quarter, with an average return rate of 6%. Price volatility is expected to further decrease, and the trend may continue to oscillate within a range.
In terms of macroeconomics, U.S. consumer spending is slowing while inflation remains high, with personal income and spending both declining in May, and core inflation rising to 2.7%. The likelihood of the Federal Reserve cutting interest rates in the short term has diminished, with policy still focusing on balancing price stability and economic growth risks.
