Bitcoin is gaining traction as more investors decide to hold onto their assets, showing growing confidence in its long-term value despite market volatility. A $10 billion short squeeze could push Bitcoin to new highs, according to analyst MartyParty.
📉 A $10 Billion Short Squeeze Could Happen
If Bitcoin reaches $66,200, about $10 billion in short positions are at risk of being liquidated, said MartyParty, an expert. As the short positions are closed, the price of Bitcoin will automatically be pushed higher.
If this level is broken, it could trigger a massive liquidation cascade, taking the price to $70,300, where another $16 billion in shorts are vulnerable to liquidation.
📈 Golden Cross Is Coming
On the technical chart, Bitcoin is approaching the “Golden Cross” - a sign of strong growth potential. The current price is $62,452, and indicators such as MACD are trending up.
History has shown that the “Golden Cross” in 2020 and mid-2021 has created strong price increases for Bitcoin, and this time may be no exception.
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