Bitcoin (BTC), after falling to $60,000, managed to recover to over $70,000 but failed to maintain that level.
With Bitcoin having fallen to the $66,000 level, while further declines are expected, some are also suggesting that $60,000 could be the bottom.
At this point, a Kraken analyst stated that BTC could recover if it stabilizes between $65,000 and $70,000.
Speaking to DL News, Kraken analyst Thomas Perfumo predicts that Bitcoin has a high probability of recovering if its price stabilizes in the $65,000 to $70,000 range.
A Kraken analyst noted that options traders are betting on BTC’s volatility decreasing within this range.
Perfumo recalled that similar trends were observed during the BTC corrections of August 2004 and March-April 2005, with recovery rallies following periods of large-scale selling and high volatility.
“Historically, we saw a similar dynamic during Bitcoin’s corrections in August 2024 and March-April 2025.”
In both cases, recovery rallies followed as markets digested the heavy sell-off and volatility returned to normal.
Perfumo also cited on-chain data to support his expectation of a market recovery. He noted that the Coin Days Destroyed (CDD) indicator, which tracks long-term assets, has fallen to low levels following its surge in 2024-2025. According to the analyst, this indicates a decrease in selling pressure from long-term investors and creates favorable conditions for market stabilization as supply pressures decrease.
*This is not investment advice.