Bitfinex reports: Bitcoin bullish momentum is beginning to take shape
Online reports, Bitfinex Alpha reported that Bitcoin continues to show impressive resilience, rising more than 10% in the past week, outperforming traditional risky assets such as the Standard & Poor's 500 Index. After weeks of turmoil and low liquidity, Bitcoin has recovered its range low of $94,000-a key sign because it was the level that underpinned Bitcoin's rebound to a record high in January. In addition, Bitcoin has now rebounded to the short-term holding cost basis level of approximately $92,900, a key on-chain pivot point that often distinguishes the pullback phase from new bullish momentum. In addition to the positive market structure, the profit margin indicator has also rebounded to 87.3%, indicating that market health and investor profitability are improving.
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