Bitcoin Could Fall Into the $40,000s Before Bottoming: Bitfinex Analysts
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Bitfinex analysts say on-chain indicators point to further downside for bitcoin, which could fall into the $40,000s by the end of this year as investors continue exiting the spot market. The report highlights increased on-chain selling and spot-market outflows as risks to crypto price action, funding and token performance, posing headwinds for adoption and exchange liquidity.
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According to on-chain indicators reviewed by analysts at the crypto exchange Bitfinex, bitcoin (BTC) still has some way to go before it bottoms out in this bear cycle.
The latest Bitfinex Alpha report revealed that the leading digital asset could decline further into the $40,000s by the end of this year as more investors exit the spot market.
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