Bitfinex Analysts Say “Bitcoin (BTC) Has Completely Changed!”, Giving Three Price Levels That Will Determine Its Next Direction!

Bitcoin (BTC) continues to trade in a narrow range in the shadow of the US-Iran war.

While Bitcoin has recently seen encouraging recoveries, analysts believe BTC is becoming increasingly dependent on external factors.

At this point, according to Bitfinex analysts, BTC’s short-term movements have become dependent on oil prices and bond yields.

In their latest weekly report, Bitfinex analysts stated that Bitcoin’s short-term direction has become more dependent on oil prices, Treasury bond yields, and Federal Reserve policy than on cryptocurrency-specific factors.

Bitfinex analysts stated that the sharp drop in leverage ratios in the Bitcoin derivatives market signals a structural shift where macro liquidity conditions are driving the price.

According to analysts, BTC has entered a consolidation phase driven by macroeconomic factors, and the market’s direction is now determined by ETF flows and global liquidity.

Analysts noted that the market entered a consolidation phase after a leverage-driven correction, and the Bitcoin price remained within a specific range.

Analysts also added that the recent recovery has not changed the overall market situation and that Bitcoin is increasingly trading like a technology stock.

Analysts concluded that, unless there is a clear break in ETF fund flows, BTC is likely to remain in a range between $63,000 and $72,000 for the next few weeks.

According to Bitfinex, the key levels to watch in Bitcoin are listed as follows:

*This is not investment advice.

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