TechFlow News, June 15: According to the Bitfinex Alpha report, Bitcoin held its low of $59,200 after multiple tests and rebounded 3.54% this week to close at $65,655. This rally stems more from exhaustion of selling pressure than from new demand. Previously, futures open interest had declined significantly from its May peak; short-term holders sold at a loss; and exchange balances fell to a seven-year low—indicating the market has entered a phase of de-leveraging and release of selling pressure. Short-term holders remain broadly underwater by approximately 17%–19%, implying substantial potential overhead supply.
Bitcoin is currently trapped between two key levels: a cyclical realized price support near $54,000 below, and short-term holder break-even resistance near $68,000 above. The market structure reflects a “pause in selling pressure but no confirmation of buying interest.”
