6.26 Friday BTC Morning Thoughts

Bitcoin ushers in a key quarterly options delivery node today, with prices oscillating repeatedly around the $60,000 integer mark, market sentiment highly tense.
From the news front, nearly $10B in options on Deribit are delivered today, with the vast majority of call options already out of the money, leading the market to face sustained defensive selling pressure. The coin price once dipped to a new year low of $58,035, then quickly rebounded, but nearly $700 million in long leverage was liquidated, reflecting the fragility of current confidence.
Technically, a pattern of "short-term support clear, medium-term trend bearish" is shown. Bitcoin has broken below the 200-week moving average, the long-term bull-bear boundary, and the daily short-term moving average system is in a bearish alignment, encountering resistance upon rebounding to the moving average levels. However, there is strong Gamma support near $60,000—the put option wall accumulated at this level, combined with market maker hedging behavior, temporarily anchors the price in the $59,000–$62,000 range. On-chain data also confirms that whales are actively accumulating chips in the $58,000–$59,000 range, indicating buying power in this area.
Notably, the daily RSI is forming a bullish divergence: the price has made a new year low, while the RSI indicator has not followed suit, suggesting downside momentum may be weakening—a potential local bottoming signal. However, once $60,000 is confirmed lost, the demand zone below will shift to $57,000, and deeper to the realized price confluence zone at $55,000.
Operation suggestion: short on rebound to 615-620, target 600, if broken, see 590$BTC $ETH ‌