Bitcoin holds $60,000–$62,000 despite selling pressure as leverage resets and options show mixed signals

Bitcoin has held the $60,000 to $62,000 zone despite strong selling pressure, with forced selling increasingly absorbed by the market rather than triggering fresh capitulation, Bitfinex said in a March 3 report cited by BlockBeats. Derivatives positioning shows a full leverage reset, with open interest in futures contracts down more than 50% from the October peak and funding rates briefly turning sharply negative after tensions escalated in Iran, pointing to bottomed-out sentiment and heavy short positioning. Based on historical patterns, such extreme conditions can pave the way for a rebound-driven short squeeze if spot demand strengthens, Bitfinex added. The options landscape remains nuanced, with recent skew staying defensive amid strong demand for downside protection, even as March quarter expiries display a clear bullish tilt concentrated in the $80,000 to $90,000 strike range.