Analyst warns Bitcoin’s $59K rebound to $64K may precede another capitulation

Bitcoin rebounded from a $59,000 drop to as high as $64,200 before easing to around $63,000, after heightened geopolitical headlines and comments about a potential peace deal. Futures liquidations climbed to well past $600 million in a day, with $467 million coming from shorts. Analyst Merlijn The Trader said the bounce may not mark the bottom, projecting a possible move toward $65,000–$70,000 before a deeper decline into a $48,000–$59,000 DCA range.