ChainThink report, October 15th, after a significant de-leveraging wave that swept the derivatives market last week — one of the largest chain liquidation events in recent years — research brokerage K33 noted that the cryptocurrency market has entered a healthier phase.

In its latest report, the company's research director Vetle Lunde called for patience, but described this market reset as "constructively bullish," emphasizing that the excessive leverage risks that had persisted for months have been eliminated, laying the foundation for a new round of price increases.

"The structural impacts of de-leveraging mean that liquidity may remain thin during the period when market participants recover from forced selling," Lunde analyzed. "From historical data, such de-leveraging phases often lead to short-term stagnation and cautious trading, but they also frequently mark market bottoms, nurturing the soil for long-term recovery."