Bitcoin (BTC) has been on a positive track this past week, surpassing its local high of $65,200 on August 25. However, BTC is currently trading below $65,000 and could see further gains. According to a Bitfinex report, the decline in aggressive buying in the spot market suggests that the price is approaching equilibrium.

📈 September saw BTC show its most positive monthly performance, up more than 7%. BTC made its first significant move since August 2024, above $66,500. Bitfinex says that BTC staying above $62,750 is critical for a bull market.

⚠️ However, the decline in spot market aggression and the increase in open interest are warning signs that the market could be overheating. This has coincided with local highs in the past, causing price declines.