According to the analysis group at Bitfinex, the market is entering a more stable phase to prepare for the next bullish cycle. Previously, the market experienced a 10% correction, bringing the price of Bitcoin close to 100,000 USD last week and over 1.9 billion USD in positions liquidated in the derivatives market.
However, experts warn that on-chain data shows increasing selling pressure from long-term investors. This could be a factor that may pressure demand.
"Bitcoin is at a crossroads - balancing between the technical support zone and weakening upward momentum, waiting for the next macro signal," the Bitfinex report emphasizes.
