Bitfinex alpha： If no new buyers enter, Bitcoin may experience prolonged consolidation

According to Foresight News, Bitfinex alpha published an analysis stating that the sustained outflow of funds from US spot Bitcoin ETFs (totaling $921.4 million last week) indicates that institutional buyers have not yet returned with sufficient strength to effectively offset market selling pressure. Short term holders are still facing net unrealized losses, exacerbating selling pressure. These investors, especially those who have bought in the past 7 to 30 days, are often the most prone to panic selling. From a historical perspective, when the inflow of new funds slows down and the trend of holding costs changes, it usually indicates that market demand is weakening. As the support for Bitcoin above critical levels gradually weakens, this trend becomes increasingly evident. If there are no new buyers entering, Bitcoin may experience a longer period of consolidation, and even further decline due to weak hands continuing to exit.