Bitcoin Holds 59,200 Support, Bounces 3.54% to 65,655 This Week Amid Deleveraging

BTC0.19%
According to Bitfinex Alpha, Bitcoin held above its 59,200 support level and bounced 3.54% to close at 65,655 this week, driven primarily by exhaustion of selling pressure rather than fresh demand. Exchange balances have hit their lowest level in seven years as short-term holders cut positions at losses. Futures open interest has declined significantly from May highs. The market currently trades between two critical levels: 54,000 support below and 68,000 resistance above, where short-term holders face potential losses, representing a "sell pressure pause but unconfirmed demand" structure.
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