Bitfinex Alpha: Bitcoin Faces Key Support Level Test, Altcoin Activity Rises

Odaily Planet Daily reported that the Bitfinex Alpha report shows Bitcoin has been consolidating within the $77,100 to $81,300 range over the past 20 trading days. The current price is approaching the key support level at the lower end of the range. If it breaks above $81,300, the volume vacuum above could push prices quickly up to $86,500. The options market has shifted protection to contracts expiring on September 18 ahead of the Fed's interest rate decision. The report also points out that while Bitcoin volatility has declined, altcoins have shown active performance, with all 29 major coins posting gains last week—Polkadot rising 43% and Zcash up 42%. Altcoin perpetual futures open interest has exceeded Bitcoin's for the first time this week, a situation historically often accompanied by market correction risks.