Bitfinex Alpha: Bitcoin's recent pullback may be a 'healthy reset' rather than a crash The latest Bitfinex Alpha report states that Bitcoin is experiencing its first major pullback since its April low, having previously surged 50% from $74501 to a historic high of $111880 before falling back slightly. This pullback reflects a change in market rhythm, as the previous 50 day continuous rise had a small magnitude of pullback. The pullback was not only technical, but also occurred against the background of heavy macroeconomic pressure after the US government unexpectedly restored tariffs, which led to the yield of 30-year US treasury bond bonds exceeding 5%, and high risk aversion. Despite some pullback, the structural strength of Bitcoin remains strong, and this pullback seems to be a healthy reset rather than a collapse, driven by leverage write offs and profit realization following one of the strongest recoveries in cryptocurrency history. In addition, the cryptocurrency industry may also undergo a major development in the corporate, regulatory, and even global financial sectors.