Bitfinex Report: Bitcoin may continue to fluctuate and consolidate within the range of $60000 to $69000 for fundraising According to BlockBeats, on February 24th, Bitfinex Alpha released a report stating that Bitcoin is still limited to range consolidation, following the deepest correction in this cycle on February 5th. Volatility has narrowed and momentum has weakened, indicating that the market is shifting from a clearing driven decline to a more balanced environment. On chain data shows that most of the recent decline has been absorbed by the demand area of $60000- $69000. These holders are currently approaching breakeven and have largely avoided accelerated selling, helping to stabilize prices and prompting the market to show a sideways consolidation trend. The Bitcoin ETF recorded a net outflow of approximately $166 million last week, and Ethereum products continued to experience redemptions, indicating that the market has not yet recovered from sustained institutional accumulation. Although the inflow of funds at the end of the weekend provided initial stable signals, the overall liquidity environment remains sluggish. The continued contraction of the profit loss ratio towards the historical defense range indicates limited capital expansion in the network. At the same time, derivative holdings have returned to normal, with funding rates at neutral or slightly negative levels, reducing liquidation risks but also limiting the potential for rapid price increases. To achieve a lasting breakthrough, the market needs a significant rebound in spot demand and stronger institutional participation; Prior to this, Bitcoin may continue to fluctuate and consolidate within its existing absorption range.