Crypto Exchange Officials Talked About What They Expect for Bitcoin Going Forward

Cryptocurrency exchange Bitfinex evaluated the latest outlook in the markets in its weekly “Bitfinex Alpha” ￰0￱ to the report, weak inflation data and easing US-China trade tensions have helped Bitcoin hold in the $113,600 range, signaling a gradual return of optimism in the crypto ￰1￱ data shows that market volatility has decreased significantly following the record $19 billion liquidation on October ￰2￱ options open interest decreased by approximately $7 billion to $31 billion, the sharpest weekly decline since ￰3￱ volatility fell to 44.1% over the 30-day period and 27.9% over the 10-day period, suggesting that traders are now anticipating a continued consolidation rather than a sudden ￰4￱ spent most of the week below the 0.85 quantile level mentioned in last week's report, the cost floor for short-term investors.

However, lower CPI data and signs of easing US-China tariffs helped BTC break above these resistance ￰5￱ to Bitfinex, a sustained hold above $113,600 would confirm the market has returned to its “accumulation phase.” Otherwise, the price risks a pullback to $97,500. Related News: BREAKING: Altcoin ETF News Continues to Pour In - Situation Almost Finalized for Two Altcoins On the macro front, US inflation rose by 0.3% month-over-month and 3% year-over-year in ￰6￱ rate is seen as progress toward the Fed's goal and reinforces expectations for a late-October interest rate cut. However, the Bitfinex report notes that underlying this positive outlook are “two distinct economies”: one bolstered by record stock market gains, while the other still grapples with high food, energy, and service ￰7￱ US's public debt, which has reached $38 trillion, also poses a risk to global financial ￰8￱ debt-to-GDP ratio of 124% and rising interest expenses are forcing the country into a cycle of “borrowing to pay off existing debt.” Japan and China's reductions in their US bond holdings are increasingly shifting this burden to domestic ￰9￱ the Asian front, Japan's Financial Services Agency (FSA) is preparing to allow domestic banks to offer cryptocurrency trading and custody ￰10￱ move represents a fundamental shift from Japan's previously strict crypto ￰11￱ the overall picture, Bitfinex concludes that volatility in the markets is decreasing, optimism is gradually returning, but a major bullish breakout seems difficult in the near term. *This is not investment ￰12￱ Reading: Crypto Exchange Officials Talked About What They Expect for Bitcoin Going Forward