Bitfinex: BTC may be entering bottom formation phase

Bitfinex Alpha noted in its latest report that Bitcoin may have begun to form a market bottom, highlighting a lack of significant selling pressure even after a large BTC sale by Strategy. The report pointed out that BTC has rebounded from its cycle low of $57,803 and that supply and demand dynamics are improving, with spot ETFs recording net inflows for three consecutive trading days. However, Bitfinex Alpha cautioned that a stable recovery to around $71,500 is necessary to confirm a macroeconomic bottom. The firm added that the next two to three months will be a critical period for determining whether a phased bottom is being established.