Bitfinex report: Crypto market is in a consolidation phase, not a cascading decline.

A recent report from Bitfinex Alpha indicates that the crypto market is currently in a consolidation phase, rather than experiencing a cascading decline. Last week, Bitcoin's price fell 21.46% from its all-time high in October, briefly dipping below the psychological level of $100,000 to a low of $99,045. This decline may signal the formation of a new consolidation bottom rather than an impending large-scale sell-off. Historical market and on-chain data show that the current price action closely resembles mid-cycle corrections, where structural participants stabilize their positions and rotate capital within the ecosystem before a broader uptrend continues. Bitcoin's price experienced a controlled decline, falling below the key level, after failing to hold the $112,500 short-term holder (STH) cost price, confirming the previously anticipated retest of deeper structural support.