BTC shows resilience amid sell-off, bottom seen in 2-3 months

Bitcoin is maintaining a positive trend and showing strong resilience despite recent large-scale sell-offs, according to the latest report from Bitfinex Alpha. The report notes that approximately 10.83 million BTC are currently at an unrealized loss, while 9.22 million BTC are in a state of profit. The fact that the shock from recent fund outflows has not been fully reflected in spot trading volume suggests that the market is approaching a bear market bottom, the analysis states. As ETF asset allocations shift back to net inflows and long-term holders and whales resume accumulation, Bitcoin is moving from investors with low conviction to those with high conviction. Bitfinex Alpha predicts that the next two to three months will be a critical period for confirming the market's short-term bottom.