In a recent update, experts from the renowned cryptocurrency exchange Bitfinex have revealed that certain on-chain signals indicate a potential decline in selling pressure from investors with short-term goals. Notably, Arthur Hayes, the ex-CEO of BitMEX, highlighted that Bitcoin’s recent descent to $56,800 aligns with the market’s low point and confidently projected that the price range will hover between $60,000 and $70,000 until the arrival of August.
