According to the latest report published by the cryptocurrency exchange Bitfinex, the Bitcoin price may continue its consolidation process within the “accumulation” range defined as $60,000 – $69,000.
The report states that the pullback on February 5th was the deepest correction in the current cycle, emphasizing that market volatility has narrowed and momentum has weakened. This indicates a shift from a sharp, liquidation-focused decline phase to a more balanced market structure.
According to the report, on-chain data shows that much of the recent decline was absorbed in the demand zone between $60,000 and $69,000. Investors who bought at this price range are reportedly close to their cost basis and are avoiding accelerating selling pressure. This situation is said to have stabilized the price, supporting a sideways trend.
On the institutional side, the picture does not yet indicate a clear recovery. Last week, there was a net outflow of approximately $166 million from Bitcoin ETFs, while redemptions in Ethereum products were reported to be continuing. Although the limited inflows seen in the latter part of the week signaled short-term stability, overall liquidity conditions remained weak.
It was also stated that the realized profit/loss ratio continues to narrow towards historically defensive levels, and capital expansion within the network remains limited. Positions in derivative markets have normalized, and funding rates are at neutral or slightly negative levels. According to the report, this outlook reduces the risk of liquidation while also limiting the possibility of rapid and sharp price increases.
According to the report, a sustained and powerful breakout requires a significant recovery in spot demand and stronger institutional participation. Otherwise, Bitcoin is expected to continue its consolidation process within its current absorption range.
*This is not investment advice.
