coin-img-ETHETH+10.63%coin-img-BTCBTC+8.14%coin-img-SOLSOL+11.51%coin-img-UCNUCN+0.24%coin-img-XRPXRP+8.05%coin-img-USDCUSDC-0.04%coin-img-ASTERASTER+13.67%coin-img-ADAADA+15.54%coin-img-ETHETH+10.63%coin-img-BTCBTC+8.14%coin-img-SOLSOL+11.51%coin-img-UCNUCN+0.24%coin-img-XRPXRP+8.05%coin-img-USDCUSDC-0.04%coin-img-ASTERASTER+13.67%coin-img-ADAADA+15.54%coin-img-ETHETH+10.63%coin-img-BTCBTC+8.14%coin-img-SOLSOL+11.51%coin-img-UCNUCN+0.24%coin-img-XRPXRP+8.05%coin-img-USDCUSDC-0.04%coin-img-ASTERASTER+13.67%coin-img-ADAADA+15.54%coin-img-ETHETH+10.63%coin-img-BTCBTC+8.14%coin-img-SOLSOL+11.51%coin-img-UCNUCN+0.24%coin-img-XRPXRP+8.05%coin-img-USDCUSDC-0.04%coin-img-ASTERASTER+13.67%coin-img-ADAADA+15.54%

Bitcoin Nears Local Bottom as Market Shifts to Consolidation Phase, Bitfinex Says

Bitcoin rebounded last week, aligning with expectations of a local bottom, Bitfinex said in a Dec. 2 report. The adjusted Spent Output Profit Ratio dropped below 1 for only the third time since early 2024, matching dynamics at prior cyclical lows in Aug. 2024 and April 2025, while Entity-Adjusted Realized Loss spiked to $403.4 million daily, exceeding levels at previous major lows. BTC futures open interest declined to $59.17 billion from a peak of $94.12 billion, with the contraction occurring alongside spot price gains, indicating short covering rather than new speculative positioning. The report noted extreme deleveraging, short-term holder capitulation and seller exhaustion have established foundations for a stabilization phase, with reduced fragility potentially setting a base for sustained recovery in Q4.
Selected
BTC
BTC+7.65%
Disclaimer: The content above is only the author's opinion and does not represent BingX’s stance. It shall not be construed as investment advice from BingX. For details, refer to the Terms and Conditions.