Funding has turned positive but OI has decreased; this move is more like short covering rather than new capital entering. Only if 64-66k can hold steady is it considered a true rebound.

$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.