Crypto analyst Doctor Profit has set an $88,000 target for Bitcoin, contingent on the asset breaking above and confirming $82,500 as support, with $78,500 identified as the key level to watch before that move. Bitcoin now faces an $82,500 breakout test following recent gains, while analysts track $78,500 and $71,000 below.

Separately, analyst Darkfost reported that Bitcoin has undergone its sharpest deleveraging since 2023, with Binance Open Interest falling below its 180-day average during the correction. Open Interest measures the total value of outstanding derivative contracts that have not yet been settled, making it a widely tracked gauge of leverage in the market. Even so, Binance Open Interest remains elevated at $9.6 billion versus an $8.3 billion average, keeping leverage risks in focus.

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, though he identified $78,500 as the key level to monitor before such a move.

The analyst noted that Bitcoin has broken the resistance but has not yet confirmed it as support. According to Doctor Profit, $71,000 remains the strongest support and floor if another decline occurs. He clarified that this level does not represent his expected downside target.

The analyst also pointed to several earlier levels 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, a range he had previously identified in his Sunday Report as a resistance level likely to break.

Bitcoin subsequently moved above that range, leaving $82,500 as his next resistance target.

Meanwhile, Darkfost focused on Bitcoin's derivatives market during the recent correction, reporting a sharp drop in Binance Open Interest during the deleveraging phase.

Binance Open Interest Drops Below Average

According to Darkfost, Binance Open Interest fell below its 180-day average, a decline that marked Bitcoin's sharpest deleveraging phase since 2023. The correction closed or liquidated positions that had grown too large across the market. Deleveraging episodes of this kind typically unfold when forced liquidations cascade, abruptly shrinking the amount of borrowed capital deployed in futures positions.

Bitcoin also recorded its largest liquidation events in its history during this cycle. However, Binance Open Interest remains elevated at $9.6 billion, compared with an $8.3 billion 180-day average, representing 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.