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

Odaily News, Bitfinex Alpha report shows that Bitcoin has been trading sideways in 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 could push the price quickly up to 86,500 USD. In the options market, protection has been moved 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 shown notable activity, with all 29 major coins posting gains last week—Polkadot up 43% and Zcash up 42%. For the first time this week, open interest in altcoin perpetual contracts has surpassed that of Bitcoin, a historical pattern often accompanied by market correction risks.