Bitfinex report: BTC has been consolidating for 81 days, and traders are waiting for clearer macro signals

Odaily Planet Daily News Bitfinex Alpha Report pointed out that BTC has been in a narrow trading range of $91,000 to $102,000 for the past 81 days, reflecting that traders are waiting for clearer macroeconomic signals before making decisive moves. The report emphasizes that despite the escalating global geopolitical tensions, BTC has shown little directional momentum. Its weekly performance was only a 4.3% peak-to-trough fluctuation, closing slightly up 0.82%. This period of stagnation has also affected altcoins, many of which are struggling amid uncertainty. The broader altcoin market has significantly underperformed Bitcoin, and Meme coins such as PEPE have suffered huge losses, falling 46.4% in the past month. At the same time, Bitcoin's price stability indicates that capital is flowing from altcoins to BTC, further consolidating its position as the dominant digital asset. The global altcoin market value has fallen by $234 billion in just 14 days. Despite this slide, Bitcoin has remained relatively stable, indicating a growing divergence from the rest of the market. This trend highlights Bitcoin’s growing correlation with macroeconomic conditions and its maturity as a risk-on asset. Another key indicator, the Inter-Exchange Flow Pulse (IFP), turned bearish on Feb. 15 for the first time since June 2024. This shift suggests that traders may be reducing their exposure, which could lead to further downside pressure. However, the IFP remains above its 90-day moving average, leaving room for a potential market rebound. In addition, Bitcoin investors have recorded the largest actual losses of the current bull cycle. Short-term holders (STH) have been particularly affected. Losses for this group reached $520 million, which is comparable to levels seen during previous market pullbacks. Meanwhile, long-term holders (LTH) continue to hold positions. Despite some support from bullish catalysts such as Abu Dhabi’s investment in the BlackRock Bitcoin ETF, traders remain cautious. (CryptoSlate)