Analysts Caution That Bitcoin’s Rally May Be Losing Strength
Bitcoin may still be trading near record territory, but behind the price action, market specialists say the foundation looks increasingly fragile.
The world’s largest cryptocurrency briefly pressed past $92,000 before slipping back, and the timing — just before the Federal Reserve’s policy update — would normally be blamed on caution. But Bitfinex researchers argue the weakness runs deeper than macro nerves.
Their latest market breakdown describes Bitcoin moving into a phase where liquidity support is thinning and buyers are no longer stepping in with conviction.
When Buying Dries Up, Risks Rise
- Instead of accelerating accumulation, the analysts see sellers dominating flows:
- Spot ETFs are bleeding assets, a sign that large investors are cashing out rather than scaling exposure.
- Exchange volume metrics point to persistent net selling, suggesting traders are offloading coins rather than absorbing supply.
- Roughly seven million BTC sit at unrealized losses, echoing stagnation patterns from the 2022 malaise.
Fresh capital is entering but at weak levels — inflows remain positive but far below the intensity seen during previous bull cycles, reducing momentum for rebounds.
Vulnerability Creeping Back In
According to the report, these signals point to a market that has plateaued without strong support beneath it. Analysts warn that this leaves Bitcoin more reactive to shocks — whether from monetary policy, liquidity conditions, or macro headlines — because the marginal buyer appears to be stepping back.
In their view, the narrative has flipped: instead of asking whether Bitcoin can surge, traders now need to ask whether it has enough demand to absorb volatility if external pressure builds.
Tomorrow’s Fed decision may move the mood — but the cracks analysts describe stem not from speculation about rates, but from a softening market that looks increasingly unstable as the year winds down.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
