Bitfinex: Currently, the key trading range for BTC is between $60,000 and $74,000

The Bitfinex Alpha report indicates that Bitcoin's performance in January has reached its lowest level since 2022, with the market structure shifting from a distribution phase to a sustained downtrend. Currently, the $60,000 to $74,000 range is a key battleground for Bitcoin, where the market may consolidate, digest losses, and adjust positions before it can more clearly determine whether this range will serve as a rebound bottom or a brief pause before further declines.

Despite the short-term momentum remaining bearish, the convergence of various capitulation signals suggests that Bitcoin is entering a stabilization phase.