On June 9, Bitfinex Alpha reported: Driven by spot demand, long-term holders' profit-taking, and macroeconomic risk recovery, Bit has seen a typical price increase. On June 5, Bit experienced its last decline, with a single-day long liquidation exceeding $875 million, highlighting the extent of deleveraging.
Over the past week, the total liquidation amount for Bit exceeded $1.9 billion, with leverage now forcibly reset. Technical structure shows that Bit's rise is supported by real demand, with the spot market showing a stepped increase, with key accumulation points at $93,000-96,000 and $102,000-104,000.
As old holders begin to sell, on-chain indicators currently show rising selling pressure. In short, Bit is now at a crossroads—balancing between structural support and weakening bullish momentum, with macroeconomic factors potentially playing a decisive role.
