Bitcoin showed renewed strength after several analytics firms reported clear signs of seller fatigue across major trading venues. According to data shared this morning by Bitfinex and Glassnode, reduced spot-sell pressure, shrinking realized losses, and moderating funding rates suggest the recent drawdown may be stabilizing more firmly than previously expected.
Market analysts noted that the shift follows nearly two weeks of heavy deleveraging, during which more than $19B in open interest was flushed out across derivatives markets. The reset has left Bitcoin trading on what several desks describe as a “cleaner and more resilient leverage base,” reducing the likelihood of deeper forced-selling waves and improving overall market structure for potential upside continuation.
The move has also encouraged a more constructive tone among pro-crypto strategists. While macro uncertainty remains, monitoring desks are watching for sustained inflows into U.S. spot ETFs, which have shown early signs of re-accumulation after last week’s outflows. Analysts expect the next key signal to be whether BTC can maintain higher lows, a pattern historically associated with relief-rally setups and renewed accumulation phases.
Source: https://x.com/TheRealPlanC/status/1996404351150211281
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