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Bitfinex: Bitcoin consolidates in the $100,000 range, but the market shows signs of stabilization

ChainCatcher message, Bitfinex post analysis, last week, Bitcoin reached an all-time high, breaking the $100,000 mark for the first time, hitting a historic high of $104,000. This marks a 111% increase from Bitcoin's low of below $50,000 during the summer. However, after the rebound, there was a significant 14.84% pullback, including a rapid 10% drop within just eight minutes, which is the largest pullback from the current all-time high since the sell-off before the U.S. elections. This pullback triggered over $1.1 billion in liquidations, with $419 million in Bitcoin long positions, highlighting the level of leverage in the market.Despite the market's extreme volatility, signs of stabilization are emerging. The realized profit metric had peaked at $10.5 billion daily but has now dropped to $2.5 billion, easing selling pressure. The futures funding rate has also normalized, indicating a decrease in speculative leverage. Although ETF inflows slightly slowed over the weekend, they remain a key source of support against the backdrop of long-term holders continuing to take profits. As Bitcoin consolidates above $100,000, the medium-term outlook remains bullish, and with the normalization of funding rates and easing selling pressure, there is potential for further upside as long as ETF inflows continue to increase.Additionally, the Federal Reserve is assessing potential policy shifts that the new government may undertake, while the economy remains supported by a resilient labor market and stable consumer demand. However, the uneven recovery across various sectors suggests a need for cautious optimism.

4E: The trading atmosphere in the Thanksgiving market is becoming subdued, maintaining a narrow range of fluctuations overall

ChainCatcher news, on Thursday, the U.S. financial markets were closed for Thanksgiving, resulting in light trading and weak liquidity. Bitcoin experienced a strong rebound yesterday after some investors took profits, briefly rising to $97,200, and currently trading at $96,382, maintaining a steady defense of the $95,000 level, with a slight increase of 0.68% in the past 24 hours.Ethereum has shown strong performance recently, with the price breaking above $3,684 yesterday, reaching a new high in over five months, which boosted the prices of ecosystem tokens. The L2 and DeFi sectors performed well, and the market may officially welcome altcoin season. Currently, after a peak and pullback, Ethereum continues to oscillate in the $3,500 to $3,600 range, reporting $3,564 before the deadline, down 1.6% in 24 hours.In the forex market, the U.S. dollar index rebounded to 106.21 on Thursday after falling to a two-week low in the previous trading session. The euro fell against the dollar as traders reduced bets on further interest rate cuts by the European Central Bank, while the overall forex market was subdued due to the U.S. holiday. Gold prices rose, driven by geopolitical uncertainty and trade concerns, boosting safe-haven demand. Oil prices climbed on Thursday, supported by the situation between Israel and Lebanon and the delay of the OPEC+ meeting, with U.S. and Brent crude prices rising over 0.8% during trading.Due to the impact of the Thanksgiving holiday, the market trading atmosphere has become subdued, significantly reducing the likelihood of various asset prices breaking through existing range-bound movements. eeee.com is a financial trading platform that supports assets such as cryptocurrencies, stock indices, bulk gold, and forex, recently launching a USDT stablecoin financial product with an annualized yield of 5.5%, providing investors with a potential safe-haven option. 4E reminds you to pay attention to market volatility risks and to allocate assets wisely.
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