Bitcoin Deleveraging Finally Over? What The Derivatives Data Says

Bitcoin’s sharp slide to $81,119 on January 30 came with a derivatives-market gut punch: forced long closures spiked to extreme levels, yet perpetual funding stayed decisively positive. That mix is complicating a common read, whether the market has already “cleansed” leverage or is still set up for repeat liquidation waves. Is The Bitcoin Deleveraging Over? On-Chain analyst Axel Adler Jr. , in his Morning Brief, pointed to a “cascade of forced closures” over the past 24 hours, with long liquidations dominating the tape source: https://www.newsbtc.com/bitcoin-news/bitcoin-deleveraging-finally-over-derivatives-data/