Bitcoin’s value rebound for the reason that Friday bloodbath to $59,000 drove the asset north to $64,000 earlier this morning, maybe pushed by some optimistic developments on the US-Iran warfare entrance.
One analyst, although, believes this value restoration isn’t the total story and warned about one other main retracement.
BTC Jumps to $64K
The first cryptocurrency plunged beneath $60,000 on Friday for the primary time since earlier than the US presidential elections in November 2024. This new native low was the end result of a weeks-long correction that started in mid-Might when the asset was rejected at $82,000.
It managed to rebound to simply over $60,000 comparatively shortly and bounced to $62,000 over the weekend. It skilled some volatility yesterday night when Iran struck Israel in retaliation for assaults towards Lebanon. Nevertheless, US President Donald Trump condemned all of the strikes and stated that his nation and Iran is perhaps nearer to a peace deal that could possibly be introduced in the following couple of days.
BTC jumped to $64,200 in a promising wick, however was shortly stopped and now sits at round $63,000. Most altcoins adopted the fluctuations, main to a different uptick within the liquidations from the futures subject. The full worth of wrecked positions has risen to properly previous $600 million each day, reveals CoinGlass information. This time, although, brief liquidations dominate with $467 million.
Don’t Belief The Pump
Widespread analyst Merlijn The Dealer predicted BTC’s bounce following the $59,000 low, however cautioned that this isn’t the total story. He based mostly his evaluation on the 2022 bear market, when the cryptocurrency had already retraced exhausting however then rebounded in the same method. Nevertheless, the precise capitulation was nonetheless in play and adopted after some buyers had already hopped on.
If historical past repeats now, Merlijn predicted a value surge towards $65,000-$70,000 earlier than the last word leg down drives the asset to a correct DCA zone between $48,000 and $59,000.
The Bitcoin bounce is coming.
Don’t go all-in on it.Wyckoff Accumulation:
2022: Spring at $15.5K.
Bounce rally to $23K.
Bulls purchased the bounce.
Then capitulation.2026:
Similar playbook.
Spring close to $50K incoming.
Bounce rally to $65-70K incoming.
DCA zone: $48-59K.… pic.twitter.com/ZJNxHzA1XX— Merlijn The Dealer (@MerlijnTrader) June 7, 2026
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