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

The Odaily Planet Daily reports that the Bitfinex Alpha report shows Bitcoin has been consolidating within the 77,100 to 81,300 USD range over the past 20 trading days, with the current price approaching the key support level at the lower end of the range. If it breaks above 81,300 USD, the volume vacuum above may push the price rapidly toward 86,500 USD. In the options market, protection has been shifted to contracts expiring on September 18 ahead of the Federal Reserve's interest rate decision. The report also notes that while Bitcoin volatility has declined, altcoins have remained active, with all of the top 29 cryptocurrencies posting gains last week—Polkadot rising 43% and Zcash gaining 42%. For the first time this week, open interest in altcoin perpetual contracts has surpassed that of Bitcoin, and historically, such occurrences have often been accompanied by market correction risks.