Bitcoin Defies Macro Headwinds with Resilient Trading

Despite the recent sell-off in AI-related stocks and rising expectations of interest rate hikes, Bitcoin has continued to trade sideways above its bear-market lows.

According to a report from crypto exchange Bitfinex, the cryptocurrency's resilience is attributed to current market positioning, which has already undergone significant deleveraging.

The report notes that much of the leveraged selling pressure was exhausted in late June, limiting forced selling during recent volatility and contributing to Bitcoin's relative stability compared to other risk assets.

Investors are now closely monitoring upcoming U.S. employment data, which could provide clearer signals on the Federal Reserve's next policy moves, as well as whether inflows into Bitcoin exchange-traded funds (ETFs) will resume.