- Doctor Profit targets $88K if Bitcoin breaks and confirms $82,500 as support, with $78,500 key before the move.
- Bitcoin’s sharpest deleveraging since 2023 pushed Binance Open Interest below its 180-day average during the correction.
- Binance Open Interest remains elevated at $9.6B versus an $8.3B average, keeping leverage risks in focus.
Bitcoin now faces an $82,500 breakout test after recent gains, while analysts track $78,500 and $71,000 below. Doctor Profit expects $88,000 after $82,500 breaks. Meanwhile, Darkfost reported Bitcoin’s sharpest deleveraging since 2023, with Binance Open Interest falling below its 180-day average during the correction.
Doctor Profit Sets $88K Bitcoin Target
Doctor Profit said $82,500 remains the next major resistance level for Bitcoin this week. He expects $88,000 to follow if Bitcoin breaks above that level. However, he identified $78,500 as the key level to monitor before that move.
The analyst said Bitcoin has broken the resistance but has not confirmed it as support. According to Doctor Profit, $71,000 remains the strongest support and floor if another decline occurs.
He clarified that the level does not represent his expected downside target. The analyst also pointed to several earlier levels that Bitcoin has already cleared. Bitcoin broke $65,400 resistance, followed by $69,000 and the bear market resistance bands.
Bitcoin Clears Major Resistance Levels
Doctor Profit said Bitcoin also broke $71,500 and established that level as support. The market then moved toward the $78,000-$78,500 resistance area. He had previously identified that range in his Sunday Report as a resistance level likely to break.
Bitcoin subsequently moved above the range, leaving $82,500 as his next resistance target. Meanwhile, Darkfost focused on Bitcoin’s derivatives market during the recent correction. He reported a sharp drop in Binance Open Interest during the deleveraging phase.
Binance Open Interest Drops Below Average
Binance Open Interest fell below its 180-day average, according to Darkfost. The decline marked Bitcoin’s sharpest deleveraging phase since 2023. The correction closed or liquidated positions that had grown too large across the market.
Bitcoin also recorded its largest liquidation events in its history during this cycle. However, Binance Open Interest remains elevated at $9.6 billion. That compares with an $8.3 billion 180-day average and represents about 37% of Bitcoin’s total Open Interest.
Darkfost noted that traders have already returned after the correction. He said the renewed positioning has accompanied Bitcoin’s rebound, while warning that elevated leverage can precede further deleveraging episodes.
