Bitcoin retreats as market awaits new momentum
According to Bitfinex's latest Alpha report, Bitcoin's repeated attempts to break through the $95,000 to $98,000 resistance zone have failed, causing prices to fall back into previous consolidation patterns.
After reaching $97,850 in mid-January - the highest level this year - the leading cryptocurrency lost more than 10% of its value, dropping below its annual opening price. Weakening spot buying pressure and accelerating ETF outflows have further constrained price action.
Market remains cautious with event-driven volatility
Derivative markets have already completed position adjustments, with volatility reactions mainly concentrated in short-term contracts. This suggests market participants are maintaining defensive stances, with price movements driven more by event risks than structural changes.
- Spot demand remains subdued
- ETF outflows persist
- Clear direction missing
Without new demand catalysts emerging, Bitcoin may continue consolidating within its current range, awaiting fresh signals to break the stalemate.