Bitcoin Price: Top Analyst Predicts BTC Rally To $85K Despite Liquidation Warning ⚠️
The recent ascent in Bitcoin price prompts optimism towards BTC's run towards $85,000, despite warnings of a massive liquidation if it crosses the $71,000 mark, urging caution.
As the Bitcoin price continues its upward trajectory, anticipation builds within the crypto community. Notably, with key U.S. inflation data and FOMC minutes on the horizon, market sentiment seems to have remained positive to start the week.
However, amid the optimism, a prominent analyst cautioned against potential volatility, particularly if Bitcoin approaches the $71,000 threshold.
Analyst Warns Massive Liquidation
The regaining momentum in the Bitcoin price has fuelled the market today, with experts anticipating an increasing risk-bet appetite of the investors. However, despite the rally, the recent warning from a popular crypto market analyst has weighed on the sentiment.
In other words, despite the recent uptick in the Bitcoin price, warnings loom over the potential for significant liquidation if BTC surpasses $71,000. Notably, prominent crypto market analyst Ali Martinez highlighted the risk, stating that approximately $72 million in liquidation could occur at this price point. This cautionary note underscores the fragility of the market and the need for investors to tread carefully as Bitcoin approaches critical levels.
In a recent X post, Ali Martinez stated:
“A lot of sellers in this recent downswing. Now, nearly $72 million will be liquidated if Bitcoin rebounds to $70,875!”
Meanwhile, this warning serves as a reminder of the potential consequences of rapid price movements in the crypto market, urging traders to remain vigilant.
However, despite this warning, Ali Martinez, in another X post, set $85,000 as the next target for the Bitcoin price. In his post, he said that if Bitcoin can “hold above” $70,800, the next target for the flagship crypto will be $85K. This bullish forecast, despite the warning, has fuelled market sentiment.
Ref: coingape
