Report: Bitcoin may enter a phase of range fluctuation or consolidation in the short term

PANews reported on September 23, according to Bitfinex Alpha, despite Bitcoin's recent strong performance, it has not yet broken through the key high of $65,200 on August 25. If it cannot break this level, Bitcoin may continue its downward trend since March. In addition, the growth of Bitcoin's open interest (OI) contracts has exceeded the increase in spot prices, indicating that last week's rise was mainly driven by the futures market. As for altcoins, although some tokens have rebounded more than 100% from their lows in August, the overall market has not yet broken out and the OTHERS index continues to fall. In short term , Bitcoin may enter a period of range fluctuation or consolidation.