Is the Bottom Finally In?
BTC just did what it does best, shake everyone out and reverse hard.
After sweeping liquidity in the $63K–$62K range, BTC reclaimed $67,800 and is now showing strong upside momentum. The big question everyone is asking:
Was that the mid-term bottom?
Let’s break it down.
1. The Liquidity Sweep That Changed Everything
The move into $62K wasn’t weakness it was engineered liquidity.
What happened structurally:
- Equal lows formed around $63K
- Retail longs stacked stop losses below support
- Futures traders aggressively shorted the breakdown
- BTC wicked into $62K, triggering stops
- Immediate sharp reclaim followed
That sweep cleared sell-side liquidity.
Markets often bottom when maximum pain is delivered.
That flush removed weak hands.
Now price is trading back above reclaimed structure which signals acceptance above the breakdown level.
That’s not bearish behavior.
2. Short Squeeze Fueling the Move
During the drop:
- Funding rates flipped negative
- Open interest stayed elevated
- Shorts piled in expecting continuation
Once BTC reclaimed $64K:
- Short liquidations began triggering
- Open interest started declining
- Forced buying pushed price higher
This is classic squeeze mechanics.
When price rises while OI drops, it usually means shorts are closing not reckless longs chasing.
That makes this rally structurally healthier.
3. ETF Inflows Absorbing Supply
Institutional demand remains a key driver.
Spot Bitcoin ETFs have:
- Shifted back toward positive net inflows
- Continued steady accumulation
- Reduced circulating supply on exchanges
When ETFs buy, they remove real BTC from the market.
That creates supply compression, especially after leveraged traders get flushed.
Liquidity sweep + institutional absorption is a powerful combination.
4. Market Structure: Mid-Term Bottom Formation
From a structural standpoint:
- Higher low formed after the sweep
- Strong impulsive candle from $62K
- Reclaim of prior intraday range
- No aggressive rejection on the bounce
This suggests the mid-term bottom is likely in for now.
Important distinction:
This does NOT mean straight-line up only.
It means downside liquidity was cleared and the path of least resistance has shifted upward.
5. Why $75K Is a Logical Upside Target
If momentum continues, the next major liquidity zone sits around:
- $70K psychological level
- Prior highs region
- Then $73K–$75K supply cluster
$75K represents:
- Previous major distribution zone
- Large liquidation pool above highs
- Obvious breakout liquidity
Markets are magnets to liquidity.
If BTC holds above $64K–$65K, a retracement toward $75K becomes a high-probability mid-term scenario.
6. What Would Invalidate This Thesis?
Bottom scenarios fail when:
- Price loses $62K again
- Bounce lacks follow-through
- Open interest spikes aggressively on weak structure
For now, none of those are dominant.
Momentum has shifted.
So… Is the Bottom Finally In?
Mid-term?
Yes, likely for the time being.
Macro cycle bottom?
Too early to declare.
What we just saw looks like:
- A liquidity flush
- A derivatives reset
- Institutional absorption
- Structure reclaim
That combination often marks a local or mid-term bottom.
What Happens Next?
Most probable path:
- Short squeeze continuation
- Consolidation above reclaimed range
- Gradual grind toward $70K
- Attempt toward $73K–$75K
Volatility will remain. Pullbacks are normal.
But structurally, the market just did what it does before larger upside expansions.
The sweep is done.
The weak hands are gone.
Momentum is shifting.
If buyers defend this range, $75K is not unrealistic, it’s the next logical liquidity magnet.
Read also:
Why Is Bitcoin Dumping? OKX CEO blames Binance
When Will MicroStrategy Get Liquidated on BTC? Saylor Answers
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