TechFlow news, December 9 — Bitfinex released a report stating, "Bitcoin broke through $100,000 last week, hitting a record high of $104,000. This marks an 111% surge from its summer lows below $50,000. However, this rally was followed by a sharp 14.84% correction, including a rapid 10% drop within just eight minutes—the largest pullback since the all-time high and comparable to the sell-off seen before the U.S. presidential election. This correction triggered over $1.1 billion in liquidations, with $419 million coming from long positions, highlighting the extent of leverage in the market.
Despite this, signs of market stability are emerging. The realized profit metric, which peaked at an average daily level of $10.5 billion, has now declined to $2.5 billion, easing selling pressure. Futures funding rates have also normalized, indicating reduced speculative leverage. Although ETF inflows slowed over the past weekend, they remain a key support for the market, especially against the backdrop of long-term holders taking profits. As Bitcoin consolidates around $100,000, the medium-term outlook remains bullish, and further upward momentum is possible, provided ETFs continue to see sustained inflows."
