Bitfinex Alpha: Bitcoin Faces Critical Support Test, Altcoin Activity on the Rise

Odaily News – According to Bitfinex Alpha's report, Bitcoin has been trading sideways between $77,100 and $81,300 over the past 20 trading sessions, with the current price approaching the key support level near the lower end of this range. A breakout above $81,300 could trigger a rapid move toward $86,500 due to the lack of volume above. In the options market, protection has been shifted to contracts expiring on September 18 ahead of the Fed's interest rate decision. The report also notes that while Bitcoin's volatility has declined, altcoins remain active, with all of the top 29 coins posting gains last week—Polkadot rising 43% and Zcash up 42%. Altcoin perpetual futures open interest has surpassed Bitcoin's for the first time this week, a historical pattern often associated with the risk of market pullbacks.