Bitfinex analysts warn that Bitcoin's nearly three-month rally may be losing steam as buying pressure weakens and more traders start taking profits . “For the first time in that uptrend, momentum has begun to fade,” Bitfinex analysts said in a markets report on Monday .
Since Bitcoin fell to its year-to-date low of $73,273 on April 9, it has surged almost 41% to $107,380 at the time of publication . However, the analysts warned that order flow data and onchain metrics signal that Bitcoin may be entering a period of consolidation or reaching a local top “rather than continued vertical acceleration” .
“Spot volume has cooled, taker buy pressure has weakened, and profit-taking has intensified — especially among short-term holders who rode the move from sub-$80,000 levels,” they added . Bitcoin is up 2.90% over the past 30 days .
The analysts say Bitcoin's next move will depend on macro factors and ongoing institutional demand, especially from ETF inflows . US-based spot Bitcoin ETFs have posted inflows for 14 consecutive trading days straight since June 9, amounting to $4.63 billion net inflows as of June 27, according to Farside data . Economist Timothy Peterson described last week's $2.2 billion inflows as “massive” and expects the streak to continue this week . “70% chance next week will be positive too, which generally correlates to upward price pressure,” Peterson said .
Meanwhile, Bitcoin traders will closely watch the Federal Reserve's July 30 interest rate decision, as lower rates are typically bullish for the crypto . The market currently estimates a 19% chance that the Fed will lower rates at that meeting, according to the CME FedWatch tool . Despite short-term uncertainty, analysts say the broader market structure remains strong, with higher time frame support levels still holding .