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A certain exchange: BTC sell-off is gradually transitioning to a stage where it is being absorbed by the market

A certain exchange: BTC sell-off is gradually transitioning to a stage where it is being absorbed by the market

ForesightNewsForesightNews2026/03/03 08:25
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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.

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