The spike $BTC from $80K to $86K looks like a classic market breath after a sell-off overload. In the $80K zone, a lot of stop losses and liquidations on longs were triggered, and then counter-demand kicked in from those who were waiting for a deep drop to build a position. On the charts, this often resembles a sharp pierce of a level with a quick return above: it’s as if sellers fired a round in a burst, and then buyers seized the initiative for a brief moment. But one such bounce by itself does not mean that the phase of aggressive selling is over, and one can forget about the pressure from bears.
It is important to understand that strong sales rarely disappear in one day. Their form simply changes. Part of the capitulation has already occurred around 80 thousand, part of the sellers closed positions#BTC in panic, and part exited at the very bounce to 86 thousand, using the rise as a convenient exit. In the derivatives segment, part of the open interest is simultaneously decreasing, leveraging is being reset, and the balance between long and short positions is changing. For the market, this is a useful cleansing: unnecessary risks are washed away, and subsequent movements become less fragile. But this is not a guarantee that sellers will not return as soon as the price approaches new resistance zones.
The signal that the phase of the most severe sales is coming to an end is usually given by a combination of factors, rather than one level on the chart. A decrease in the volume of liquidations, smoothing of funding rates, stabilization of inflows and outflows to large wallets, and a decrease in panic in the sentiments of participants — all this together shows that the market has stopped shooting itself in the foot with every downward movement. At the same time, large holders may use bounces to redistribute positions, gradually shedding part of the volume in a calmer environment. For an external observer, this looks like alternating jagged rises and careful sales at each local uptick.
Therefore, answering the question "have strong sales ended" is useful without extremes. Yes, after testing $80K and the leap to $86K, one can assume that the sharpest wave of capitulation is already behind, and the market has entered a phase of more structured struggle for the range. But as long as BTC remains under the tight influence of macro factors, sentiments, and residual leverage, sudden spikes in pressure are possible both above and below current levels. A logical approach for a trader here is not to try to guess the final reversal but to build scenarios for different options: from consolidation in a wide sideways range to repeated tests of support, keeping in focus not beautiful round numbers, but their own risk management system.