Bitcoin Rebounds as $162M Bid Liquidity Signals
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Bitcoin's funding rate turned slightly positive at 0.0013 after briefly dipping below zero, indicating futures traders are leaning long but leverage remains muted compared to pre-decline levels.
- Aggregated spot CVD improved by 11,000 BTC since last Friday, pointing to a slowdown in aggressive selling after several weeks of persistent distribution.
- Crypto trader Max Trades noted that open interest cooled noticeably during the bounce, with the move driven partly by short positions being closed rather than aggressive new longs entering the market.
- Alphractal CEO Joao Wedson said Bitcoin has exited an "extreme leverage" phase into moderate leverage territory following last week's liquidations, but added the market has not yet reached historical levels associated with extreme deleveraging.
- Dip buyers have placed approximately 2,565 BTC in bid liquidity between $57,000 and $59,000, worth $162 million at current prices near $63,300.
- Market analyst exitpump highlighted a similar concentration on Binance's spot order book, noting that the thick liquidity below $60,000 may lead to consolidation and further open interest resets.
- Trader LP NXT pointed to a six-week pattern in which Monday pivot highs and lows are consistently followed by the opposite pivot on Wednesday — a streak currently at six-for-six, placing focus on this week's midweek action as Bitcoin trades between support below $60,000 and resistance near $64,000.
Why it matters: The $162 million in bid liquidity stacked between $57,000 and $59,000 creates a known magnet for price action: if selling resumes, those orders could get consumed, accelerating a move toward $57K. For short-term traders, the six-for-six Monday-Wednesday reversal pattern makes Wednesday's session a high-stakes inflection point, while the shift from extreme to moderate leverage suggests forced deleveraging is largely done but hasn't yet reached the deep-discount zone that historically attracted strong accumulation.
Ask SkimNews
