Gamma

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Chinese crypto analyst Murphy stated that the current recovery in Bitcoin should be considered a “weak rebound,” and that the short-term target range is between $64,000 and $68,000. According to the analyst, the $70,000 level stands out as the ceiling for a short-term rebound within a bear market.
According to Murphy’s assessment, the average cost for current short-term Bitcoin investors is concentrated in the $64,000-$68,000 range, especially among those holding BTC for less than a month and less than three months. Therefore, the Bitcoin price needs to make repeated attempts to break through this region.
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The analyst stated that each time the price approaches this cost range, some weak investors might sell as their unrealized losses turn into profit. Murphy noted that this creates a cycle of “breakout, resistance, pullback, and another breakout attempt,” arguing that this cycle is necessary for the formation of a bottom consensus.
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Murphy divided the expected recovery into three main levels. Accordingly, the $64,000 and $68,000 levels are being watched as critical resistances related to the cost zone for short-term investors, while the $70,000 level corresponds to the realized price (STH-RP) of short-term investors.
In on-chain analysis, STH-RP is considered the bull-bear dividing line in terms of market sentiment. According to Murphy, every trend reversal usually begins with a sustained breakout above this line.
The analyst stated that in his baseline scenario, he expects a weak recovery in Bitcoin, with the price potentially rising to the $64,000-$68,000 range. However, he noted that a surprise surge above $70,000 could be considered a strong rebound.
Options market data also supports the levels highlighted by the analyst. Accordingly, the fact that market makers are in a positive Gamma position around $62,000 may lead to volatility being suppressed in this region through hedging transactions. Following a possible upward breakout, the next positive Gamma zone is located in the $66,000-$68,000 range, indicating that this region could also act as a significant resistance line.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/chinese-analyst-shares-the-price-level-he-expects-to-see-next-following-bitcoin-s-recent-upswing/" rel="noopener noreferrer nofollow">Chinese Analyst Shares the Price Level He Expects to See Next Following Bitcoin’s Recent Upswing</a>

Chinese Analyst Shares the Price Level He Expects to See Next Following Bitcoin’s Recent Upswing

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Other articles published on Jul 4, 2026

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