币界网报道：According to the Bitfinex Alpha report, Bitcoin is currently consolidating in the $100,000 to $110,000 range, after rising nearly 50% from its April low of $74,600. The recent narrowing of price fluctuations reflects the cooling of on-chain and derivatives market activities, with reduced spot trading volume, weakening buying pressure, and a drop of more than 7% in open interest, indicating that the market is transitioning from a strong rise to a volatile phase. The realized price for short-term holders is about $98,700, and it has attracted buying as a key support point many times recently. Looking ahead, historical data shows that Bitcoin usually performs weakly in the third quarter, with an average return of 6%. Price volatility is expected to decrease further, and the trend may continue to fluctuate in the range. In terms of macroeconomics, the slowdown in US consumer spending coexists with high inflation. Personal income and spending both fell in May, and core inflation rose to 2.7%. The possibility of the Federal Reserve cutting interest rates in the short term has weakened, and the policy focus remains on balancing price stability and economic growth risks.