Bitfinex Alpha | Market Consolidating, not Cascading
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Bitcoin was down by as much as 21.46 percent from its October all-time high last week, briefly dipping below the psychological $100,000 mark to a low of $99,045. Such a fall likely signifies the establishment of a new consolidation base rather than the onset of a cascading sell-off. Historical market and on-chain data suggest that the current price action closely mirrors prior mid-cycle corrections, where structural participants stabilise exposure and capital rotates within the ecosystem before broader uptrend continuation. The failure to hold above the short-term holders’ (STH) cost basis of $112,500 has led to a controlled decline, bringing BTC back below that key level and confirming the anticipated retest of deeper structural supports.
