A certain exchange: BTC sell-off is gradually transitioning to a stage where it is being absorbed by the market
Foresight News reports that a certain exchange has released a report stating that despite the intense BTC sell-off, the $60,000 to $62,000 range remains firmly defended. This indicates that forced selling is gradually transitioning to a phase where the market absorbs it, rather than a new round of capitulation selling. The status of derivative positions confirms that leverage has been fully reset. The volume of open futures contracts has dropped by more than 50% compared to the October peak, and after the escalation of the Iran situation, funding rates briefly turned sharply negative, signaling that market sentiment has bottomed out and short positions dominate. Historically, if spot demand follows, such extreme conditions could create opportunities for a short squeeze rebound.
However, the options market presents a more complex picture: recent option skew remains defensive, with strong demand for downside protection, while the quarterly positions at the end of March show a clear bullish bias, concentrated in the $80,000 to $90,000 range.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Smart ring manufacturer Oura (OURA.US) IPO reportedly oversubscribed by about 4 times
According to market sources, the initial public offering (IPO) of smart ring manufacturer Oura in the US stock market has reportedly been oversubscribed by approximately four times.
NEAR Protocol Price Surges Above $5 as Breakout Momentum Builds
Subscription multiplier reaches 4 times! "AI Ring" Oura IPO receives enthusiastic response
Smart ring manufacturer Oura's IPO was oversubscribed by approximately four times, planning to issue 50 million shares at a maximum price of $44 per share, aiming to raise up to $2.2 billions, with a fully diluted valuation of about $15 billions. Against the backdrop of companies like Holtec Nuclear withdrawing their IPO plans due to market conditions, Oura is expected to become the first major IPO in nearly three months to raise over $1 billion, injecting new vitality into the long-dormant U.S. IPO market.
