Bitfinex: Bitcoin selling pressure hits one-year low as market awaits Fed rate decision

A Bitfinex Alpha report indicates that Bitcoin has traded within a narrow 5.5% range for over 24 days, with a cost basis of approximately 840,000 BTC. Selling pressure has dropped to a one-year low, though a lack of buying interest continues to hinder a breakout. Significant leverage has accumulated at the range boundaries, with $1.95 billion in short liquidation risk near $82,000 and substantial long positions between $75,000 and $76,000. Bitfinex notes that macroeconomic factors, including rising energy costs and real yields, remain complex, and future price movement depends on Federal Reserve policy guidance.