Bitfinex Alpha: Bitcoin is in a healthy accumulation phase, driven by strong real demand

According to Foresight News, Bitfinex Alpha has released a report stating that Bitcoin has continued to demonstrate strong resilience and structural strength since returning to the low point of the $92000 range at the end of April, with prices steadily rising. This rise is clearly dominated by the spot market, showing a characteristic of a surge trend after a brief and clear consolidation phase. This model shows that Bitcoin is in a healthy accumulation stage, behind which is a strong real demand, rather than a speculative foam. The cumulative trading volume difference of spot on major exchanges has always remained positive, further confirming that the current market is dominated by real buyers rather than leveraged traders. At the same time, the position changes in the derivatives market are relatively passive, and the fluctuations in open contracts indicate that the market is in a transitional period, accompanied by short squeeze and liquidation driven adjustments. As a result, the speculative foam was cleared, the market foundation was more stable, and the current upward momentum was more supported by real capital flows. At present, Bitcoin is not far from reaching a historical high, and the spot premium remains high. The current volatile consolidation may only be a stable period before the breakthrough. Although there may still be a short-term pullback, the overall trend remains positive.