Bitfinex: Bitcoin returns above $70,000, institutional accumulation in the range may be brewing a breakout行情

Bitfinex Alpha's latest report indicates that Bitcoin has stabilized above the $70,000 mark ahead of this week's Federal Reserve meeting, with market momentum showing a clear rebound.

Although the price has not yet broken through the current range high, the recent net inflow of funds into spot ETFs over four consecutive trading days and ongoing spot buying indicate that institutional investors are continuously accumulating within the range. The market is transitioning from a previously liquidation-driven volatility phase to a more robust "absorption" structure.

On-chain and derivatives data also show an improvement in market structure, with funding rates remaining neutral and open interest gradually rising. Data indicates that around $72,500 had previously accumulated the highest short liquidation positions of approximately $2.4 billion. Once the price breaks through key resistance, it may trigger further upward momentum. Against the backdrop of escalating tensions in the Middle East driving oil prices up, the market generally believes that inflationary pressures may rise further in the coming months, which will continue to affect the liquidity environment of global financial markets, including crypto assets.