Bitcoin just tested an intraday low of $61,349, triggered roughly $1.76 billion in liquidations with long positions absorbing more than $1.5 billion of that total, and then bounced toward the mid-$63,000s.
Funding rates flipped deeply negative, open interest reset sharply, and the Crypto Fear & Greed Index fell to 12, a level in extreme fear territory.
That is a meaningful amount of technical work compressed into a short window, and the buyers who need to absorb the remaining supply have yet to confirm their return.
Market phase
What it means
Current BTC evidence
Liquidation bottom
Forced sellers are flushed out
$1.76B liquidations; $1.5B+ from longs; funding deeply negative; open interest reset
Demand bottom
New buyers absorb remaining supply
Not confirmed yet; ETF outflows persist; exchange inflows rose; spot sellers still active
What the crash reset
Lacie Zhang, research analyst at Bitget Wallet, argues the technical work from this flush was real. In a note, she said
We współpracy z: https://cryptoslate.com/bitcoin-crashed-and-flushed-leverage-out-but-is-the-bottom-here-yet/
