Bitcoin Now One Step Away from Exiting Bear Market: Bitfinex Alpha

If the capital flowing through the equities market moves into the crypto ecosystem, BTC could see a significant price breakthrough. For over two months, bitcoin has struggled below $70,000, hovering around $62,000 to $65,000. Still, experts believe that the broader macro market condition is moving in favor of the apex crypto. Crypto exchange Bitfinex stated in its latest edition of the Bitfinex Alpha report that two of the three conditions that can support a BTC rally have been met. If successful, this can supercharge the next market phase, which is expected to be more favorable for the bulls. Two of Three Conditions Met The Bitfinex report outlined “lower expected rates and already-loose financial conditions” as the two conditions that have already been met. The inflation rate fell from 3.50% in June to 3.40% in July, partly due to a drop in energy prices. It is expected that the Federal Reserve may not raise interest rates in the coming weeks. With short-term Treasury yields dropping and stocks like the S&P 500 soaring, investors have increased their appetite for risk assets. Meanwhile, tech-focused hardware and artificial intelligence (AI) infrastructure have brought in “a s...