Kraken economist: BTC could rebound if it stabilizes between $65K-$70K

Thomas Perfumo, a global economist at Kraken, predicts a high probability of a Bitcoin rebound if the price stabilizes in the $65,000 to $70,000 range. In an interview with DL News, he noted that options traders are betting on reduced volatility for BTC within that range. Perfumo pointed to similar trends during BTC corrections in August 2004 and March-April 2005, when recovery rallies followed periods of large-scale selling and high volatility. Additionally, he explained that the Coin Days Destroyed (CDD) indicator, which tracks long-term holdings, has fallen to low levels after a spike in 2024-2025. This signals a decrease in selling from long-term investors, creating conditions for the market to stabilize as supply pressure eases, he added.