Bitfinex report: BTC and the market seem to be stabilizing, and if the resistance breaks through, it may usher in a recovery

According to Golden Finance, the BitfinexAlpha report pointed out that Bitcoin broke its three consecutive weeks of decline last week and recovered the key support level of $112,500 after holding the low of the $107,500 range. The heat map of the cost base distribution shows that there is a significant dip buying around $108,000, while supply clusters between $110,000 and $116,000 currently define short-term ranges. The total market value of cryptocurrencies rose 4.8% to $3.97 trillion last week, reflecting a cautious but continuous preference for overweight. Although volatility continues, both BTC and the market seem to be stabilizing and may usher in recovery once they break through the resistance level.