[Bitfinex: BTC Sell-off Gradually Transitioning to Market Absorption Phase] Foresight News reports that Bitfinex has released a report stating that despite the intense BTC sell-off, the $60,000 to $62,000 range remains intact, indicating that forced selling is gradually transitioning to being absorbed by the market rather than triggering a new wave of capitulation. Derivatives positions confirm that leverage has been fully reset. Open interest in futures contracts has dropped by more than 50% from October's peak, and after the escalation of tensions in Iran, funding rates briefly turned sharply negative, suggesting that market sentiment has bottomed out and short positions dominate. Historically, if spot demand follows, such extreme conditions could create opportunities for a short squeeze rebound. However, the options market presents a more complex picture: recent options skew remains defensive, with strong demand for downside protection, while quarterly positions for late March show a clear bullish bias, concentrated in the $80,000 to $90,000 range.