Bitfinex noted that the recent $BTC correction resembled dips seen during past recovery periods, but there were no signs of large-scale selling by investors who had bought during the previous trading range.
Bitfinex analysts, in their assessment, particularly highlighted the outflows from spot Bitcoin ETFs and warned that if selling pressure continues, the $BTC price could fall to $77,000.
Bitfinex analysts state that $81,300 is critical for Bitcoin at this point, noting that maintaining this level would be positive for the current recovery process. However, if Bitcoin permanently falls below $81,300 and ETF-related capital outflows resume, $BTC could experience a deeper pullback to $77,400.
Analysts also noted that the average cost for spot Bitcoin ETF investors, around $84,340, is critical for an uptrend. Bitcoin trading below this level could cause some investors who have reached the break-even point to sell if the price rises again.
In this context, Bitfinex stated that the base scenario for Bitcoin in the short term is for it to move within the $81,300–$84,500 range, adding that if $84,500 is surpassed and ETF inflows strengthen, the $87,722 level could come back into play.
*This is not investment advice.
