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According to a recent report, Bitfinex says that excessive selling pressure in the Bitcoin market has likely eased — a sign of seller exhaustion. That, combined with a massive deleveraging event (over 19 billion flushed out), may have cleared the way for a potential short‑term bounce. [1]
- BTC staged a sharp rebound, climbing nearly **8
- The sell‑off appears to be driven out, leaving a leaner leverage base — reducing risk of cascading liquidations. [1]
- As a result, analysts are now suggesting Bitcoin might be nearing a local bottom, which could trigger a relief rally. [1]
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🔎 What Could Happen Next
If the “seller exhaustion → deleveraging → relief bounce” narrative holds true:
- $BTC could test resistance zones again — perhaps aiming for 94,000+ in the near term.
- With reduced leverage and a calmer derivatives market, bounce‑back rallies might be more sustained and less volatile.
- Investors who’ve been waiting on the sidelines may see this as a potential entry zone, but caution is still advised.
Takeaway: The recent cleanse of excessive leverage and selling pressure could mark a turning point in Bitcoin’s short‑term trend — but as always with crypto, watch market behavior closely.