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Bitcoin’s recent price rebound highlights its structural strength despite increased leverage in altcoins, posing risks of potential deleveraging events, according to Bitfinex Alpha insights.
Bitcoin has recently demonstrated resilience by defending its short-term range lows near $114,800, rapidly rebounding to close the week higher near $119,580. This resurgence followed an intra-week drop of nearly 5%, which triggered large-scale liquidations, erasing over $1.1 billion in long positions across major exchanges.
This incident underscores the overheated speculative positioning during Bitcoin’s recent run to all-time highs.
Source: Blockchain.News
