Bitfinex Points To $77K–$81K Range And Altcoins Capture The Market’s Momentum
TL;DR:
- Bitcoin recorded a correction after hitting highs above $93,000, retreating toward its prior consolidation zone.
- Bitcoin’s market share dropped two percentage points over the past week, settling near 58%.
- Daily trading volume across major altcoins saw a 35% surge over the last 72 hours.
Bitfinex’s weekly report points out that Bitcoin could consolidate its price within the $77K–$81K range over the coming sessions. Exchange analysts note that this movement comes in response to a redistribution of liquidity toward the alternative asset sector.
After touching historic levels midway through the month, Bitcoin’s price faced strong resistance. According to the Bitfinex Alpha report, profit-taking by short-term holders increased selling pressure across major spot order books.
This slowdown in the pioneer cryptocurrency coincided with a capital rotation into mid- and high-cap tokens. Data from the report reveals that the implied volatility index for options contracts tied to Ethereum and Solana surpassed Bitcoin’s by 12% over the past seven days.
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