**[Bitfinex Report: $2.8 Billion in Bitcoin Long Liquidations, Deleveraging May Be Nearing Its End]** The Bitfinex report shows that over the past two days, the total liquidation of Bitcoin long positions reached $2.8 billion. Bitcoin's price dropped by more than 10.4%, falling below the October 10 low to $99,045, with an overall market cap reduction of $280 billion. This deleveraging event is similar to the adjustment in April, indicating that leverage and overvaluation are being cleared, and the market may have bottomed out. The decline may have been triggered by reduced expectations for a December rate cut and strong stock market performance, which spurred risk-off sentiment. The total open interest has dropped to $69.3 billion, down from $92 billion at the beginning of October, suggesting the deleveraging phase may be coming to an end. If ETF fund inflows resume, the market may enter an accumulation phase.