Bitcoin Price (BTC) Analysis: Weakness Versus Stocks Speaks to Tepid Demand
Bitcoin is trading near $90K, showing weakness compared to stocks, suggesting tepid spot demand and vulnerability to macro shocks, according to Bitfinex.Summary
Bitcoin attempted a late weekend rally but settled near $90,000 on Monday, showing relative weakness compared to traditional risk assets like the S&P 500, which is near record highs. Bitfinex analysts warn this divergence points to tepid spot demand and a "fragile setup" for the largest cryptocurrency heading into year-end.
Key indicators supporting this bearish view include persistent outflows from U.S. spot bitcoin ETFs, traders selling into strength (indicated by negative Cumulative Volume Delta), and over seven million BTC sitting at an unrealized loss, mirroring sentiment from the 2022 consolidation period. While capital inflows remain slightly positive, they are far below peak levels.
The analysts concluded that weakening spot demand reduces immediate price support, increasing Bitcoin's sensitivity to external shocks, macro volatility, and any hawkish surprises from the upcoming Federal Reserve meeting, which could amplify downside pressure.
(Source：CoinDesk)