Bitcoin Poised for Stabilization as Bitfinex Signals Local Bottom Amid Deep Deleveraging and On-Chain Recovery Indicators

COINOTAG News notes a notable rebound in Bitcoin last week, with Bitfinex signaling potential proximity to a local bottom while confirmation remains pending. The report points to extreme deleveraging, capitulation among short-term holders, and seller exhaustion, which may underpin a forthcoming market stabilization phase. On-chain metrics align with this view: the adjusted spent profit ratio has fallen below 1 for the third time since early 2024, echoing patterns seen at prior cyclical troughs.

Meanwhile, entity-adjusted realized losses surged to about $4.034 billion daily, a level implying nearing capitulation rather than deeper downside. BTC futures open interest has declined to roughly $59.17 billion from a peak of $94.12 billion, signaling orderly deleveraging. With spot prices firming as OI contracts, the market appears less prone to renewed speculative risk-taking and more oriented toward a measured consolidation and potential Q4 recovery.