Bitfinex Alpha's latest report states that Bitcoin has fallen below $110,000, representing a retracement of over 13% from its peak. $93,000-$95,000 may represent a cyclical bottom. Alt market capitalization has stagnated overall, with sector rotation replacing new inflows. Mainstream cryptocurrencies such as ETH, XRP, and ADA have also generally retreated, while institutions continue to increase their holdings of ETH. September is expected to be a bottoming phase, laying the foundation for a rebound in Q4.
Bitfinex Alpha: BTC falls below $110,000, September may be the bottom of the cycle
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