Bitcoin is once again at a pivotal point, according to a new report from cryptocurrency exchange Bitfinex.
The exchange notes that the leading digital asset has gained more than 10% in the past week, significantly outperforming traditional assets like the S&P 500. After a period of turbulence and thin liquidity, Bitcoin has returned to the lower band of the $94,000 range — a level it previously broke through during its January all-time high.
Bitfinex analysts attribute this momentum to improving macroeconomic conditions, especially rising optimism that the U.S. may ease tariffs. This sentiment has boosted global risk appetite and helped lift cryptocurrencies across the board.
On-Chain Metrics Signal Growing Strength
On-chain indicators appear to support the bullish case. Notably, BTC has reclaimed its Short-Term Conservative Cost Basis, which sits around $92,900 — a level often associated with shifts from bearish to bullish market phases. Additionally, the Supply Percentage in Profit has risen to 87.3%, a signal of improved investor sentiment and broader market strength.
Cautious Optimism Remains as Euphoria Lags
Despite the positive data, Bitfinex cautions that market sentiment has yet to cross into euphoric territory. The next few weeks could prove decisive: either Bitcoin consolidates and pushes higher to retest its all-time highs or faces a renewed correction if support falters.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/bitcoin-holds-key-support-as-bitfinex-warns-of-critical-weeks-ahead/