Bitfinex Alpha #152 - Community Summary
BY BITFINEX COMMUNITYBitfinex Alpha: Bullish Momentum Starting to Form
🔗 Check out the key points discussed in this week's Bitfinex Alpha:
https://blog.bitfinex.com/bitfinex-alpha/bitfinex-alpha-bullish-momentum-starting-to-form/
Bitcoin extended its strong recovery last week, climbing over 10% and outperforming risk assets like the S&P 500. After weeks of volatile sideways movement and thin liquidity, Bitcoin reclaimed a critical support zone near $94,000 — a level that had previously fueled the rally to all-time highs in January. Despite disruptions affecting internet and electricity infrastructure in Europe, Bitcoin and broader markets held firm around this key area.
Positive macroeconomic sentiment helped drive the rally, boosted by expectations of potential US tax cuts and the announcement of Twenty One Capital — a crypto acquisition firm backed by Cantor Fitzgerald, Tether, Bitfinex, and SoftBank. Bitcoin also reclaimed the Short-Term Holder Cost Basis at approximately $92,900, a key on-chain signal often marking the transition from corrections to bullish trends.
Furthermore, the percentage of Bitcoin supply in profit rose to 87.3%, suggesting healthier market conditions and stronger investor confidence.
Looking ahead, the market remains shy of extreme euphoria. Bitcoin’s ability to hold these gains will be critical in determining whether a breakout to new highs or a corrective move will unfold in the coming weeks.
Macroeconomic Factors
Recent US trade policies, especially the imposition of higher tariffs on imports from China and other nations, are starting to weigh on the economy. Although initial jobless claims remain low and the unemployment rate stands at 4.2%, signs of weakening confidence in the labor market are emerging.
Worker satisfaction with wages and minimum acceptable salary expectations have dropped sharply, reflecting growing concerns over job security and future wage growth. Meanwhile, durable goods orders surged in March, driven by increased demand for commercial aircraft. However, core capital goods orders — a more accurate measure of business investment — remained flat, suggesting companies are cautious amid persistent trade uncertainties.
The US dollar has also weakened, pressured by declining GDP forecasts, rising competition from global markets, and fading consumer sentiment. Potential Federal Reserve interest rate cuts and repatriation flows from Japanese investors could further accelerate dollar depreciation, complicating the broader economic outlook.
Crypto Industry Developments
In a positive development for the crypto sector, the Federal Reserve withdrew prior supervisory guidance on crypto banking activities, aiming to simplify procedures and foster innovation for banks engaging with digital assets. This shift signals a more adaptive and supportive regulatory stance toward the industry.
Meanwhile, Securitize and Mantle launched the MI4 crypto index fund with an initial $400 million commitment, offering institutions a diversified, regulated entry point into major cryptocurrencies. This move reflects the accelerating integration of blockchain into traditional finance and the growing momentum behind asset tokenization.
Additionally, the CME Group announced the forthcoming launch of XRP futures. This expansion beyond Bitcoin and Ether futures highlights increased institutional interest in altcoins and aims to boost liquidity, price discovery, and broader acceptance of XRP, following Ripple's settlement with the SEC.
📊 Check out the full Bitfinex Alpha report in English:
https://blog.bitfinex.com/bitfinex-alpha/bitfinex-alpha-bullish-momentum-starting-to-form/
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