Bitfinex: The market has been severely impacted but there is still hope; if Bitcoin maintains $110,000, a rebound may occur

ChainCatcher news, Bitfinex Alpha's latest analysis report points out that last week Bitcoin fell from above $126,000 to below $103,310, a decline of 18.1%, triggering the largest nominal value liquidation event in cryptocurrency history.

However, historically, markets often experience a "mechanical" rebound after sell-offs driven by liquidations. For Bitcoin, if it can recover and maintain above $110,000, it will confirm entry into a stable phase and open up rebound targets around $117,000 to $120,000; conversely, if it fails to do so, it may face a retest of the $100,000 price area.