Bitcoin markets faced heavy deleveraging pressure over the past day, while the Plan ₿ Network announced the global launch of a new Bitcoin-focused pitch series called CypherTank. On-chain analyst Axel Adler Jr. reported a cascade of forced long closures, even as funding rates stayed positive during the selloff.
At the same time, Plan ₿ Network confirmed that CypherTank will premiere on January 31, 2026, during Plan ₿ Forum El Salvador, with a global online release. Could sustained positive funding delay the end of Bitcoin’s deleveraging cycle?
Adler said forced liquidations dominated trading over the past 24 hours as leverage unwound quickly across derivatives markets. His liquidation dominance oscillator printed near 97%, while the 30-day moving average climbed to 31.4%, showing a sustained imbalance over the past month.
These readings show that deleveraging pressure stayed concentrated on long positions rather than spreading evenly across both sides of the market. Traders monitor such extremes because liquidation flows often cluster before fading, which can open room for short-term price stabilization.
Still, Adler cautioned that extreme readings alone do not confirm that selling pressure has fully ended. He said the first condition for ending the deleveraging cycle requires the liquidation imbalance to cool rather than simply peak.
Despite the liquidation wave, Adler reported that funding rates stayed positive at 43.2% annualized during the selloff. This level is far below the 100% annualized rates seen during October and November market peaks.
Even so, positive funding shows traders continued paying to stay long rather than receiving incentives to hold short positions. Funding reflects positioning pressure as well as sentiment within derivatives markets.
When funding stays positive during declines, it can signal fast rebuilding of long exposure or incomplete leverage unwinds. Adler said the risk that bullish leverage never fully resets remains present under current conditions.
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The Plan ₿ Network announced CypherTank as a Bitcoin-focused pitch series centered on builders and new ideas. The series blends live pitching, founder storytelling, and community discussion within Bitcoin culture and values.
Each episode offers insight into how Bitcoin entrepreneurs build and present their projects. Episode one will debut on January 31, 2026, with a live main-stage screening hosted by Joe Nakamoto. The premiere will stream online at the same time, according to information shared with Bitcoin Magazine.
Further episodes will be released through February, leading to a season finale.
Series winners will receive formal recognition during Plan ₿ anniversary events in Lugano on March 3. Plan ₿ Network said the series encourages public discussion across platforms, including YouTube, X, Instagram, TikTok, Rumble, Nostr, and CypherTank.org. CypherTank aims to provide broad access while bringing the global Bitcoin community into the conversation.
Bitcoin deleveraging remains heavily one-sided as long as liquidations dominate while funding rates stay positive. On-chain data suggests leverage has not fully reset. At the same time, Plan ₿ Network prepares to debut CypherTank, bringing builders and ideas into global focus. Market participants continue to watch positioning closely.