Bitcoin has experienced a significant recovery in the past week, reaching a new all-time high at $109,357.07. However, a Bitfinex Alpha report warns of potential headwinds and a "sell-the-news" trading behavior that could hinder Bitcoin's upward momentum. The report emphasizes the importance of short-term holders in determining market stability and highlights the possibility of profit-taking by traders ahead of President Donald Trump's inauguration. The recent recovery was driven by spot market activity, particularly from institutional and short-term holders. Despite resilience, the report advises traders to remain cautious during this potentially volatile period.



Other News from Today