Bitcoin Stuck: Here Are 2 Things That Must Happen For BTC To Break $72,000
At spot rates, Bitcoin is firm, but traders doubt the uptrend following the unexpected dump on June 11. Currently, Bitcoin is stable, trending above $BTC 67,000 and down despite gains on June 12.Still, even at this level, there are concerns because the coin, despite all the confidence across the board, remains below $BTC 72,000. This reaction line is emerging as a key liquidation area. If broken, BTC could unleash a wave of short liquidation, accelerating the lift-off to $74,000 and beyond.
Will Bitcoin Demand Soar In Spot Markets?
Taking to X, one on-chain analyst said that Bitcoin is stagnating at spot levels below $BTC 72,000 because hedge funds are short on futures
