Bitfinex report: Although the market has been hit hard, there is still hope. If BTC maintains $110,000, it may start to rebound.

Bitfinex Alpha's latest analysis report indicates that last week, Bitcoin plummeted from above $126,000 to below $103,310, a drop of 18.1%, triggering the largest notional value liquidation event in cryptocurrency history. However, historically, such liquidation-driven sell-offs are often followed by a "mechanical" rebound. For Bitcoin, a recapture and maintenance of above $110,000 would confirm a stabilization phase and initiate a rebound towards targets around $117,000 to $120,000. Failure to do so could lead to a retest of the $100,000 price range.