Report: It is expected that Bitcoin will enter a period of consolidation or slight pullback

The latest report from Bitfinex Alpha states that Bitcoin is unstoppable. Despite a brief pullback and some strong resistance in the middle of this week, it still broke through the $70,000 mark on Bitfinex today (July 29). Since its low point on July 5th, Bitcoin has rebounded by more than 30%, and it was previously predicted that this low point could be a local bottom. This upward momentum coincides with the Bitcoin Nashville Conference in 2024. The implied volatility of the Bitcoin options market initially soared but later fell as traders reduced risk. With a large number of options expiring on Friday, August 2nd, some return to calm in the market may indicate that prices will enter a period of consolidation or minor correction.