Bitcoin market structure resets after deleveraging; a new round of risk-taking may emerge in 2026.

2026-01-08 01:00:11

【Crypto World】By the end of 2025, the Bitcoin market has completed a round of deep adjustment. The existing positions in spot, futures, and options markets have been effectively cleared, and this deleveraging event has reset the market’s structural constraints, laying a clearer foundation for subsequent trends.

From recent market signals, the trend is shifting. ETF capital flows are gradually stabilizing, participation in the futures market is slowly rebuilding, and the options market is also showing a clear bullish bias—skewness indicators are returning to normal levels, volatility has bottomed out, and market makers’ gamma near high strike prices has shifted to a short position. These subtle changes are enough to indicate that the market is gradually transitioning from a defensive and distribution-driven mode to one of selective risk-taking and participation rebuilding.

Although the structural accumulation is not yet particularly obvious, the key point is—legacy positions have been cleaned out. What does this mean? It means the pressure from above has eased, and the upward potential has been released. Bitcoin has established a more solid foundation by early 2026, with the internal market structure continuously improving, leaving room for future expansion.

From various angles of the derivatives market, conditions are gradually converging in a favorable direction.

BTC0,91%

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MetaverseVagabond

· 01-11 00:49

Deleveraging is complete. Can the pressure really be eased? It feels like a rebound trap. Wait, volatility has bottomed out. What's next? Are we going to surge again? People who cleared their positions probably lost a lot this time, haha. Structural reset sounds good, but when will it actually drive prices? New risks in 2026. Feels like we're about to get chopped again. So should we chase now or wait, everyone? I’m a bit confused.

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MevWhisperer

· 01-10 23:58

Deleveraging is done, now it's our turn retail investors to get on board, right... --- Volatility bottomed out? Then I need to watch my stop-loss carefully, don’t let another crash happen --- Reduced pressure, space released... sounds good, but I’m worried it’s just another trap to lure more buyers --- Finally some positive signals, these two months have been exhausting to watch --- Switching to short positions? Feels like the main players are playing chess again, let’s just watch the show --- Taking on risk for 26 years? Then I’d better prepare some stablecoins in my account first... --- Deleveraging is a good thing, but only if we can survive until that day --- Structural reset sounds high-end, but it’s actually just waiting for the next wave of takers --- Every time I hear about space being released, which one should I believe? --- After the washout, it rises? Why do I still feel like I can’t see it?

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0xOverleveraged

· 01-10 23:21

Deleveraging is complete... Sounds good, but why do I feel like this is just the final "bear trap"? --- The space for easing pressure is released. I've heard this explanation too many times, and it's always the same. --- Volatility hitting the bottom? Wake up, buddy, this is just the prelude to a big surge. --- Structural accumulation isn't even obvious yet, and we're already talking about risk-taking. Are we being played again? --- ETF stable capital flow... I just want to know how long this stability can last. Who will be the fastest to run during the next crash? --- Market maker switching to short positions? Should I try to do the opposite? --- After talking about reset for so long, it's basically betting on a new cycle in 2026. --- After clearing out the legacy holdings... Nice words, but isn't that just cutting a wave of leeks? --- If the bullish bias is so obvious, why do I feel it's just as risky? --- Here we go again. Every time there's an adjustment, they say space is released, but it still ends up oscillating in place.

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PositionPhobia

· 01-09 17:08

Deleveraging has crushed the shorts, now it's going to rise again, right? Here we go again, I don't believe you. Is a bottom in volatility a sign of a rebound? Wake up, buddy. Reduced pressure equals a rise... how can I not believe it? Is it really going to take off this time, or are they just going to cut me again?

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MainnetDelayedAgain

· 01-08 01:30

According to the database, how long has it been since the last similar commitment in this wave of deleveraging "cleansing"? It is recommended to be included in the Guinness World Records. --- It's another "relief in pressure space being released." I've heard this phrase several times; it will eventually come true. --- Skewness indicators are returning to normal, and volatility is bottoming out... all sound correct, but I don't know when it will be my turn for my wallet. --- Is the market switching from defense to risk-taking? Waiting patiently for the bloom to come; anyway, I’ve become very good at the art of timing. --- The cleanup of remaining positions has been completed. What about those that weren't cleaned up before? Where are they? --- A new round of risk in 2026? Well, 2024 was said the same. Feel free to add more data.

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PrivacyMaximalist

· 01-08 01:30

Once the deleveraging is complete, they start to leak rumors again; the tactics are still the same. Spot, futures, and options are all cleared out, just waiting for the next batch of bagholders. I've heard many times that volatility has bottomed out, but what's the result? The real upward potential will only come when institutions stop distributing, so don't be fooled by these details.

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BearMarketSunriser

· 01-08 01:24

Deleveraging has indeed eased the pressure, but it depends on whether the subsequent funds can keep up... --- This round of cleansing has truly revealed opportunities; now it’s just a matter of who dares to buy the dip. --- The space has been released, but what’s most concerning is that after a rebound, prices could fall again—this pattern is all too familiar. --- Skewness turning positive, volatility hitting the bottom... sounds like a good signal, but I need to observe for a few more trading days before confirming. --- Risk tolerance for 26 years? Let’s first see if the current rebound can hold. --- Futures participation is being rebuilt; it seems like institutions are quietly positioning, while retail investors are still on the sidelines. --- I’m just worried that when the structural accumulation is complete, another sharp decline will come—this pattern has been seen too many times. --- The bottom is indeed clear; next, it’s a contest of who has more solid chips...

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BlockchainBrokenPromise

· 01-08 01:20

Deleveraging is complete, so what's next? Still the same old story. --- Pressure eased, space released... It sounds really comfortable, but I don't know how long the rise will last. --- Volatility bottomed out, bullish tendency... Are we about to see another wave of risk-taking? My heart can't take it. --- Completion of cleansing ≠ start of an upward trend; that logic is a bit off, brother. --- ETF stabilized, futures became active, and then what? Can 2026 really hold up? --- I've heard the term "structural reset" too many times; in the end, it's just repeated tinkering. --- Market maker switching to short positions? What signal is this, or are we about to see another plunge?

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MEVictim

· 01-08 01:14

After clearing the leverage, you start thinking about a rise? I've played this trick too many times before, so I'll just wait and see.

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MetaverseHomeless

· 01-08 01:08

Leverage has been cleared, chips have dispersed, now it all depends on who dares to make the first move and take over. --- It's that word again... I think it still depends on what the main force is thinking. --- Volatility bottomed out? Why am I still trembling haha. --- Deleveraging sounds nice, but honestly it's just cutting the leeks and restarting, right? --- Pressure easing, upward space releasing... here comes that set of words again. Can we stop doing this in 2026? --- ETF stability? My account is diving every day. --- Risk bearing? Who still dares to take on risks now... --- Switching to short positions? Feels like just faking volume. --- Once the clearing is done, I’ll be at ease. Can I get on board now, everyone? --- Can we just be straightforward without all this circling around? Just say if it’s going up or down.

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