TechFlow News, June 29, according to CrowdFundInsider, Bitfinex analysts stated that Bitcoin is currently under continuous pressure below $60,000, having significantly retreated from the historical high of over $130,000. The sustained upward trend previously bet on by the market is facing obvious reversal pressure. The spot market is experiencing a "structural exodus," ETF continuous capital outflows have not yet ended, and crypto treasury demand channels have clearly cooled down, leaving the market lacking key buying support.
Bitfinex believes that if the short-term macro environment deteriorates again, Bitcoin's "realized price" of approximately $53,400 will constitute important technical support, but under the historical four-year cycle pattern and diminishing marginal returns assumption, the price may still experience a "final lower shadow" dropping to the $40,000 range. Only if spot demand warms up again can Bitcoin complete bottoming out and restore the upward trend; otherwise, it still faces further downside risk in the short term.
