Bitfinex report: BTC has been consolidating for 81 days, and traders are waiting for clearer macro signals

Odaily Planet Daily reported that the Bitfinex Alpha report pointed out that over the past 81 days, BTC has been trading in a narrow range of $91,000 to $102,000, reflecting that traders are waiting for clearer macroeconomic signals before making decisive moves. The report emphasized that despite the escalating global geopolitical tensions, BTC has shown almost no directional momentum. Its weekly performance was only a 4.3% peak-to-trough volatility, closing up a slight 0.82%. This stagnation has also affected Altcoins, with many struggling in the uncertainty. The broader Altcoin market has underperformed Bitcoin, with Meme coins like PEPE suffering massive losses, down 46.4% in the past month. Meanwhile, Bitcoin's price stability indicates that capital is flowing from Altcoins to BTC, further consolidating its position as the dominant digital asset. The global Altcoin market capitalization has dropped by $234 billion in just 14 days. Despite this decline, Bitcoin has remained relatively stable, indicating an increasing divergence between it and the rest of the market. This trend highlights Bitcoin's growing correlation with macroeconomic conditions and its maturity as a risk asset. Another key indicator, the Inter-exchange Flow Pulse (IFP), turned bearish for the first time since June 2024 on February 15th. This shift suggests that traders may be reducing their risk exposure, potentially leading to further downward pressure. However, the IFP remains above its 90-day moving average, leaving room for a potential market rebound. Additionally, Bitcoin investors have recorded the largest realized losses in the current bull market cycle. Short-term holders (STH) have been particularly affected, with losses reaching $520 million, comparable to previous market corrections. Meanwhile, long-term holders (LTH) continue to hold their positions. Although catalysts like Blackrock's Bitcoin ETF investment in Abu Dhabi have provided some support, traders remain cautious.