[Bitfinex Alpha Report: BTC Nearing Local Bottom and Poised for Stabilization Phase] According to a report by Jinse Finance, the latest Bitfinex Alpha report indicates that Bitcoin experienced a significant rebound last week, surging over 15% from its recent low to reach $93,116. However, selling pressure remains, as Bitcoin dropped 4.1% immediately after the market opened this week. From a timing perspective, the market is approaching a local bottom, although it remains to be seen whether the price has truly bottomed out. Nonetheless, given the sharp decline in leverage, the sell-off by short-term holders, and signs of exhaustion among sellers, the market currently has the foundation to enter a stabilization phase. Additionally, the simultaneous rise in spot prices and the continued contraction of open interest suggest short covering rather than new speculative risk-taking, potentially laying the groundwork for a sustained recovery in the fourth quarter.