Bitfinex report: BTC is in a consolidation state before entering the third quarter of 2025, and the historical return rate in Q3 is usually lower

Planet Daily News: Bitfinex released an Alpha report, pointing out that BTC will remain in a consolidation state before entering the third quarter of 2025, with Bitcoin prices continuously fluctuating in a clear range between $100,000 and $110,000. After a nearly 50% explosive rise from the low point of $74,634 in April, signs of consolidation have emerged. The recent price trend's pullback reflects a cooling of on-chain and derivatives trading activities, with a decline in spot trading volume, weakened buyer pressure, and reduced open interest, highlighting the market's transition from an aggressive impulse trading phase to a range-bound oscillation phase. Looking ahead, the historical seasonal characteristics of the third quarter suggest that Bitcoin will enter a phase of lower volatility and more moderate directional fluctuations. On average, the third quarter is the weakest quarter for Bitcoin, with historical returns of only +6%, and prices tend to maintain a range-bound movement during this period.