Bitfinex says BTC holds up despite AI stock sell-off and rate-hike concerns

Bitfinex said in a report that Bitcoin has continued to trade sideways above bear-market lows despite several headwinds, including rising expectations for interest rate hikes, higher bond yields and a sell-off in AI-related stocks, according to CoinDesk. The report said many had feared a steeper decline, but Bitcoin has remained range-bound, which it attributed to positioning. It added that the crypto market fell less than leveraged equity themes as capital tied to forced selling had already been exhausted. A large share of leveraged positions was liquidated in late June, the report said, limiting forced selling during the recent spike in volatility. Investors are now watching U.S. employment data and clearer Federal Reserve policy guidance, while also focusing on whether inflows into Bitcoin ETFs resume, it added.