COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Bitfinex Analysts Observe Bitcoin Price Stabilization
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Bitcoin News > Bitfinex Analysts Observe Bitcoin Price Stabilization
Bitcoin News

Bitfinex Analysts Observe Bitcoin Price Stabilization

In Brief

  • Bitfinex analysts observed Bitcoin price stabilization signs.

  • Derivative market data indicates a narrowing gap between current price and historical volatility.

  • Citi Bank predicts a series of interest rate cuts by the US Federal Reserve next year.

COINTURK NEWS
COINTURK NEWS 10 months ago
Share
SHARE

Bitfinex analysts observed that the Bitcoin price might have reached a local bottom and is showing signs of stability. After a period of high volatility, the leading cryptocurrency by market value seems to be finding its place above the $59,000 mark. This development came after a notable drop last Wednesday when Bitcoin fell below its 120-day range to $53,219 due to market reactions to potential sales by the German government and Mt. Gox creditors. Despite this drop, Bitcoin has recovered, although daily price fluctuations remain a factor.

Contents
Positive Data for BitcoinExpectations for Interest Rate Cuts

Positive Data for Bitcoin

Derivative market data provides further insights into this stabilization. Bitfinex analysts highlight that the gap between the current price and historical volatility has narrowed by almost 90%. This narrowing gap indicates that investors are beginning to expect Bitcoin prices to stabilize within a certain range. Additionally, although there is a lack of conviction in both directions in the options market, stabilization signals are becoming more apparent.

Short-term price volatility has started to decrease, and long-term holders continue to make profits. According to analysts, the short-term selling pressure might be nearing its end. Accordingly, the Spent Output Profit Ratio (SOPR) for short-term holders stood at 0.97. This level indicates that this group is now selling at a loss. Historically, such conditions have led to price recoveries as selling pressure decreases, offering a potentially optimistic outlook for the near future.

Expectations for Interest Rate Cuts

In a broader economic context, the latest estimate from Citi Bank suggests that the US Federal Reserve may implement a series of interest rate cuts next year. Citing deflationary data, Citi analysts predict that the Fed could reduce interest rates by 25 basis points in eight consecutive meetings starting in September and continuing until July 2025.

This would significantly lower the benchmark interest rate from the current range of 5.25%-5.5% to 3.25%-3.5%. This estimate aligns with signs of economic softening, including a temporary decline in service employment and dovish comments from Fed Chairman Jerome Powell.

These economic indicators and forecasts will play a crucial role in shaping market expectations and investor sentiment. As indicated by the Chicago Mercantile Exchange (CME) FedWatch tool, the increased likelihood of an interest rate cut in September has already influenced the outlook of those trading on the possibility of a series of rate cuts. The probability of such cuts rose from 71% to 73.6%, reflecting a growing consensus on the need for monetary easing.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Eric Trump Drives American Bitcoin Forward in Mining Race

Wisconsin Exits Bitcoin ETF Investments Amid Strategic Realignment

BlackRock’s Spot Bitcoin ETF Ignites Phenomenal Market Surge

Peter Schiff Shines Light on Bitcoin’s Unique Real-World Application

BlackRock Warns of Quantum Computing Risks to Bitcoin Security

COINTURK NEWS 10 July, 2024 - 12:07 pm 10 July, 2024 - 12:07 pm
Share This Article
Facebook Twitter
Share
Previous Article How to Buy DeXe Coin?
Next Article Cardano Reaches Milestone with Chronoshot on Epic Games Store
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Cryptocurrency Insights Reveal New Trends and Opportunities
Cryptocurrency News
Cryptocurrency Insights: How WIF and ETH Reveal New Market Trends
Technical Analysis
Bitcoin Surges as Investors Focus on Market’s Next Big Move
Cryptocurrency News
Bitcoin Surges Impact Market as Key Levels Influence Short-term Direction
Bitcoin (BTC)
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?