Bitfinex reports Bitcoin remains stable amid AI stock sell-off and rate hike fears
Bitfinex reported that Bitcoin continues to trade sideways above bear-market lows despite challenges such as rising interest rate hike expectations, higher bond yields, and a sell-off in AI-related stocks. The report noted that fears of a steeper decline have not materialized, attributing Bitcoin's stability to market positioning. It stated that the crypto market experienced less decline compared to leveraged equity themes, as capital tied to forced selling had already been exhausted. A significant portion of leveraged positions was liquidated in late June, which limited forced selling during recent volatility spikes. Investors are currently monitoring U.S. employment data and Federal Reserve policy guidance, as well as the potential resumption of inflows into Bitcoin ETFs.
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