The Bitfinex Alpha report states: "Bitcoin is currently stabilizing between $108,000 and $112,000, with buyers defending key support and filling the gap left by July's rapid advance." While a deeper pullback remains possible, a more likely outcome is a time-based consolidation, particularly given that September historically marks a cyclical low before a historically strong fourth quarter. If the Federal Reserve confirms a September rate cut, falling real yields and a weaker dollar could amplify BTC's seasonal upside, setting the stage for renewed upward momentum. Until then, consolidation remains the baseline, with ETF flows, macro policy changes, and derivatives positioning serving as key signals to monitor.