Spot volume is shrinking, and futures shorts being closed is driving the move; for now, I’m treating it as a rebound—only consider the long side if it breaks 66k again.

$BTC After sweeping the low at $60k, price has bounced roughly 5.5% and is now pushing back into the $64k-$66k resistance area.

Funding has flipped slightly positive during the bounce, showing that perps are once again leaning long.

At the same time, open interest has cooled off noticeably during the bounce, suggesting that this move is partly being driven by short positions getting closed rather than aggressive new longs entering the market.

Spot volume has also started to decrease, indicating that the aggressive selling pressure we saw over the past few weeks is beginning to slow down.

For now, this supports the idea of a short-term relief bounce from current levels.

The main question is whether buyers can generate enough momentum to reclaim the $64k-$66k resistance zone or if this is simply a short term bounce before the next leg lower.