Bitfinex report: Bitcoin's recent pullback may be a healthy reset, not a collapse

Odaily News Bitfinex Alpha reports that Bitcoin is experiencing its first major correction since its April lows, after surging 50% from $74,501 to a record high of $111,880 before retreating. The pullback reflects a change in the market's rhythm, following nearly 50 days of continuous gains with minimal corrections. The pullback is not merely technical, but comes against the backdrop of macroeconomic pressures after the U.S. government unexpectedly restored tariffs, causing the 30-year Treasury yield to break through 5%, and rising risk aversion.
Despite the pullback, Bitcoin remains structurally strong and the pullback appears to be a healthy reset rather than a collapse, driven by leverage write-offs and profit taking after one of the strongest recoveries in cryptocurrency history. In addition, the cryptocurrency industry may also be experiencing a wave of major developments in the corporate, regulatory and even global financial sectors.