Headline: Криптоинвестиции идут в рост: биткоин на пути к стабилизации Translation: Crypto investments on the rise: Bitcoin on the path to stabilization

The cryptocurrency market is entering a phase of stabilization, attributed to a significant decrease in debt burdens, a dwindling number of sellers, and the capitulation of short-term holders, as stated by analysts at Bitfinex.

The report further substantiates this assertion by highlighting the dynamics of the SOPR indicator. During the recent correction, it fell below 1 for only the third time in the past 25 months.

A similar scenario was observed at previous cyclical lows in August 2024 and April 2025.

However, the depth of the current downturn is emphasized by the figure for adjusted realized losses of organizations, which have surged to $403.4 million per day. This significantly exceeds the values seen during previous major downturns.

«This level of realized losses typically indicates that we are nearing the end of capitulation rather than the beginning of a deeper correction,» the analysts noted.

Derivative data also points to the onset of a controlled reset: total open interest in BTC futures has dropped to $59.17 billion, well below the peak of $94.12 billion. This signals a systematic reduction of leverage.

The past week demonstrated a clear increase in institutional integration of Bitcoin, as noted by Bitfinex. According to BlackRock’s reporting, reserves in its strategic IBIT portfolio rose by 14%. The total number of acquired shares reached 2.39 million.

Experts report that even traditionally conservative bond funds are now utilizing Bitcoin ETFs as diversification tools.

Meanwhile, ARK Invest continued its investments in digital assets despite liquidity pressure in the sector. Last week, the firm acquired $93 million worth of shares in cryptocurrency companies.

«Supporting this institutional momentum, Texas has become the first state in the U.S. to publicly invest in Bitcoin […]. Though modest in scale, this move carries symbolic weight and marks the beginning of a transition to direct Bitcoin custody as the necessary infrastructure becomes available,» the researchers emphasized.

It’s worth reminding that analysts from Glassnode noted a similarity between the current dynamics of the cryptocurrency market and those of 2022.