Bitcoin rallies above $69,000 as retail traders apply pressure to short positions and aim to generate a lasting bullish trend change.

Bitcoin’s daily funding rate has been deeply negative for days, reflecting heavy short positioning, but historical data also suggests that a squeeze on bears could be brewing.

Bitcoin and Ether spot ETF holders are nursing steep losses as the market continues to search for a local bottom, but data from Bloomberg suggests neither cohort is capitulating.

Bitcoin’s rejection at $70,000 and the large liquidity void below leave $60,000 vulnerable, a move analysts see as likely in the coming days.

Bitcoin price crumbled back toward its 2026 low as a lack of fresh capital inflows, weak investor sentiment, and rising selling in spot markets chipped away at the $66,000 level.

ETH’s market structure and fractal analysis from 2021 and 2024 provide insights where significant buy demand may exist. Currently, it’s on the downside.