Bitcoin (BTC) belongs to the “waiting game” and trades between $100,000 and $110,000, with analysts highlighting the need for macrocatalysts to break the top of the channel.
The latest “Bitfinex Alpha” Report The reasons behind the integration period were focused on lighter spot activities with wallets that fell below $80,000 in April, softer taker flows, and profit-taking with wallets.
The report said its decline in spot volume and a weaker appetite for the future are signs of a stalled rally from the $74,634 Low on April 9. Exchange data showed $58.6 million in long liquidation of $58.6 million and $65.2 million in short liquidation within 24 hours, washing away leverage on both sides.
Open interest in PERP and dated contracts fell 7.2% to 334,000 BTC, indicating a reduced forced location and a cleaner derivative landscape.
The report notes that June corresponds to the historically strong second quarter ending, with average returns for this period since 2013 at nearly 27%. Meanwhile, the third quarter average is only 6%, and in many cases the range is tight.
The $94,000-$99,000 support is strengthened by short-term holder realisation prices, currently approaching $98,779.
Traders stepped in when spot prices fell to $98,579 on June 22, raising the pair to $108,250 after geopolitical tensions eased.
The report framed the current structure as a “standby game” in which the Bulls and Bears balance the new demand until new demand arrives.
Monitored macro drivers
Nikolai Sondergado, Nansen’s research analysts flagged the Federal Reserve policy as a key variable. He noted that the market is likely to respond positively when the Fed announces. Risk assets add that risk assets need cheaper capital and better liquidity to attract new capital.
Søndergaard tracks liquidation heat maps and facility wallet signals to measure whether large buyers accumulate or stand aside.
Reflecting its view, Bitfinex Alpha said the influx of Exchange Trade Funds (ETFs) must accelerate, and that global liquidity must be expanded before Bitcoin can clear its upper band in the two-month range.
Without a deeper cash allocation, spot bids will fade to nearly $110,000, and sellers will limit the price by trimming their positions.
Still, the report did not see any immediate breakdown as long as the main support levels were retained and structural positioning was constructive.
Bitcoin Market Data
When reporting 9:50pm, 30 June 2025 UTCBitcoin ranks number one in terms of market capitalization, and the price is above 0.09% Over the past 24 hours. Bitcoin has a market capitalization 2.14 trillion dollars 24-hour trading volume $4.346 billion. Learn more about Bitcoin›
Overview of the Crypto Market
When reporting 9:50pm, 30 June 2025 UTCCrypto market totals are evaluated by 3.33 trillion dollars There is a 24-hour volume $106.8 billion. Bitcoin’s advantage is currently underway 64.27%. Crypto Market Details›