Bitcoin is consolidating around $113,600 as market volatility decreases, according to Bitfinex's latest 'Bitfinex Alpha' report. The report attributes this stability to weak inflation data and easing US-China trade tensions, which have bolstered market optimism. Following a $19 billion liquidation event on October 10, Bitcoin's options open interest has decreased by $7 billion to $31 billion, and realized volatility has dropped to 44.1% over 30 days. The report suggests that Bitcoin's ability to hold above $113,600 could signal a return to the 'accumulation phase,' while a decline below this level might lead to a pullback to $97,500. On the macroeconomic front, US inflation rose 0.3% month-over-month in September, aligning with the Federal Reserve's goals and supporting expectations for a rate cut later in October. Additionally, Japan's FSA is preparing to allow domestic banks to offer crypto trading and custody services, indicating a shift in regulatory stance. Despite these developments, Bitfinex notes that a major bullish breakout is unlikely in the near term.