Bitfinex Alpha | BTC Consolidates Ahead of Potential Q4 Strength, as Bond Markets Contort
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Bitcoin is holding steady between $108,000 and $112,000, with buyers defending key support zones and filling the air gap left by July’s rapid rally. While a deeper correction remains possible, the more likely outcome is time-based consolidation, especially with September historically acting as a cyclical low point ahead of a historically strong Q4. Short-term holder profitability has normalised, rebounding from 42 percent to now 58 percent of this cohort remaining in profit, while ETF inflows have slowed sharply for both BTC and ETH. This cooling institutional demand highlights the market’s dependence on fresh catalysts, though we see stronger spot conviction for BTC, compared with the mix of directional flows and arbitrage activity that characterises ETH.