Title: Bitfinex Alpha – Bitcoin Consolidating Above $100,000

Date: 09 Dec

Author: tammy

Summary:

– Bitcoin reached a historic milestone last week, breaching $100,000 for the first time and hitting a new all-time high of $104,000. – The rally was followed by a sharp correction, including a rapid 10% drop within just eight minutes.

– Signs of market stabilisation are emerging, with the Realized Profit metric falling to $2.5 billion. – The mid-term outlook remains bullish, with normalising funding rates and slowing sell-side pressure, provided ETF inflows continue. – US economic data shows the economy continues to look resilient, with a strong rebound in job creation and sustained demand for labour.

– The Federal Reserve evaluates potential policy shifts from the new incoming administration, with a resilient labour market and steady consumer demand. – South Korea experienced a dramatic surge in crypto trading, highlighting the market’s sensitivity to geopolitical instability. – Bankrupt exchange Mt.

Gox transferred $2.4 billion worth of Bitcoin to a new wallet, just as Bitcoin rose above $100,000 for the first time. – Grayscale joined the competitive race to launch a Solana ETF, filing to convert its Solana Trust as SOL rallied. Source: https://www.bitfinex.com/posts/1869

Source

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