Bitcoin's recent liquidation levels were recorded as a high of $66,700 and a low of $65,450. According to historical data, Bitcoin could fall as low as $63,000, indicating the potential for further declines. Currently, Bitcoin is trading around $65,500 and the overall cryptocurrency market is volatile.
The cryptocurrency market is under bear pressure, with Bitcoin's key liquidation levels set at $66,700 (top) and $65,450 (bottom). Historical data also predicts the possibility of Bitcoin falling to the $63,000 level. This constant fluctuation reflects uncertainty and volatility in the market.
Former hedge fund manager James Lavish offered an interesting view that Bitcoin could rise to $428,000 if it captures just 1% of the global investment market. This speculative prediction highlights that Bitcoin could have huge growth potential under favorable conditions. However, to reach the $428,000 level, Bitcoin will need to attract a small fraction of current global investment assets.
Investors and crypto whales have a generally positive view of Bitcoin. Cryptocurrency analyst Julien Bittel predicts that Bitcoin could reach $190,000 by following an upward trend. This prediction is based on the compression of the Bollinger Band Indicator and indicates a strong bull run. It is also stated that big whales added 5,900 BTC (approximately $397 million) recently.
At the time the report was prepared, Bitcoin was trading at $66,000 and had decreased by 1.35% in the last 24 hours. This decline reflects declining market participation, with a 28% decrease in trading volume. Additionally, open interest (OI) for Bitcoin contracts decreased by 4%, reflecting the mood of fear in the market, according to CoinGlass on-chain analysis reports. If the market does not stabilize, $275 million worth of long positions could be liquidated if Bitcoin falls to $65,450. Conversely, a rise in price to $66,700 could result in the liquidation of $233 million in short positions.
According to expert analysis, Bitcoin is currently in a bear trend and is likely to drop to $63,300 in the near future. The reason for this pessimism is Bitcoin's rejection from the $70,000 resistance level. Historical data shows that BTC has encountered this resistance five times since March 2024, with serious price corrections occurring each time. TradingView data and Relative Strength Index (RSI) also support this bearish trend; The RSI remains in the overbought zone and often heralds price reversals.
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