BTC is stuck in a $60K – $70K range right now, but according to Deribit’s Chief Commercial Officer Jean-David Péquignot, the bigger picture is still weak.
His main message:
✅ Until BTC climbs back above $85,000, the long-term chart stays broken and technically the easier path is still downside.
What he’s watching (easy levels)
1) $85,000 = Make-or-break level
If BTC breaks and holds above $85K, it shows buyers are back in control and supply is getting absorbed.
2) $60,000 = Major support (psychological zone)
He called $60K a key level where buy walls usually sit.
If BTC closes below $60K, then…
3) $58,000 = Next target (200-week SMA)
He said the next logical stop is the 200-week moving average around $58K a level traders often watch as a “bear market bottom zone.”
So basically:
📌 $58K – $60K becomes the “ultimate support area” if $60K breaks.
Current market vibe
BTC is already far below its recent peak and it’s been under pressure for weeks and the market still feels heavy unless $85K gets reclaimed.
#MarketRebound #CPIWatch #USNFPBlowout #TrumpCanadaTariffsOverturned