Odaily News Bitfinex analysts said that Bitcoin may have hit a local bottom, and the derivatives market indicated that the price of the digital asset began to stabilize. The price of Bitcoin remained flat over the past 24 hours, staying above $57,000. In addition, analysts said that derivatives market indicators showed that the price of Bitcoin was stabilizing after experiencing violent fluctuations in the past seven days. Price fluctuations have begun to decrease, as "the gap between implied volatility and historical volatility has narrowed by nearly 90%, indicating that traders expect Bitcoin prices to remain in a range and stabilize." (Theblock)