Last week’s Bitcoin dip a ‘healthy realignment,’ lower risk of crash: Bitfinex
Bitcoin’s dip over the last week reduced the likelihood of downside volatility, say analysts from crypto exchange Bitfinex.
*Bitcoin’s higher high is a strong indicator of muted downside volatility. Source: Bitfinex*
The recent price drop led to a decrease in Bitcoin's open interest, shrinking from $35 billion to approximately $31.8 billion. This reduction is seen as a move towards a more stabilized market environment .Analysts suggest that this dip may create opportunities for buyers to accumulate Bitcoin at lower prices, potentially setting the stage for a recovery as market conditions improve
Analysts suggest that this dip may create opportunities for buyers to accumulate Bitcoin at lower prices, potentially setting the stage for a recovery as market conditions improve Overall, Bitfinex's assessment indicates that the recent correction could lower the risk of a sudden crash, as several technical factors point towards a more stable price trajectory in the coming days and weeks
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