$BTC: Reversal or Technical Bounce?

After falling to around $60k , Bitcoin quickly recovered and brought the market back into “optimism” mode. But the structural question remains: is this the start of a new impulse or a recovery within a broader correction?

1️⃣ Derivatives and Open Interest (OI)
During the decline, OI noticeably decreased — a classic sign that the downward movement was largely driven by:
• liquidations
• closing leveraged positions
• reducing overall market risk
“Coiling” often stabilizes the market (removes overheating), but by itself, it does not prove that a new sustainable demand has formed.

2️⃣ Exchange Inflows (exchange inflows)
The current inflow picture looks moderate: there are no signs of mass “panic” transfer of coins for sale.
This reduces the likelihood of a sharp continuation of the dump at the moment but does not replace the main factor — real spot demand.

3️⃣ Risk of a False Breakout
The current rally could be explained by a combination of:
• “clearing” the market of excess leverage
• technical bounce
• short-term liquidity recovery
If the spot capital inflow does not continue, the rally may remain vulnerable to repeated tests of local lows.

4️⃣ What to Watch Next
A key confirming signal is sustained spot inflows, including into spot BTC ETFs (as a proxy for institutional interest).

📌 Conclusion: The market has become “risk cleaner,” but the sustainability of the current movement depends on whether structural spot demand returns.
#CanBitcoinReclaim$70K?