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I caught money Bitcoin A level of $76,000 before falling quickly. The largest dollar in the market also rose sharply from the long-term expected level, returning below the $74,000 barrier. Is this a short term combination before the prices start? Or is it the length of a “dead cat”? The answer may lie in Bitcoin wallets, and we’re here to provide a short-term overview.
Bitcoin futures on Binance have remained negative for the 11th time in a row, despite recent gains, showing that traders are still willing to sell when prices rise. The 30-day index for the currency has been in negative territory since the end of January, a level not seen since the FTX crash at the end of 2022, which signaled a bearish trend.
Open interest is increasing, which indicates the addition of new short positions. Historically, this combination of data was preceded by a quick and violent short-term squeeze that drove the price very high.
At the same time, traditional markets were very different; The Nasdaq index closed at its highest levels, up 2%, while the S&P 500 index settled several points away from a new record. Bitcoin is still about 40% below its record high of $126,000, a gap that represents both risk and opportunity.
Bitcoin Price Prediction: Are we headed for $90,000 in the short term?
Bitcoin just fell below the level of $ 74,000, recording a daily decrease of 1% after a strong resistance at the level of $ 76,000, the price that served as the ceiling of resistance for two months.
Technically, things are not yet clear. The $76,000 level is still a recent challenge; A clear close above it would open the door to the area of ​​$80,000-$82,000, which is the place that many experts have found to be the next important resistance group. The resistance of $ 80,000 is recorded as the next attempt by the bulls (buyers) who are trying to expand the recovery process.
A Short Squeeze will be initiated above $75,500 and the current interest rate at $76,000, which may push the price of BTC to $85,000-$90,000 in the next two to three weeks as the lower sellers are forced to cover their positions. However, a break below $70,000 with a high trading volume will disrupt the recovery sentiment and retest the $65,000 support area.
The 46-day negative trend line is the most interesting spot in the market right now. If history repeats itself as it happened in 2022, “painful sales” will be high, and the price can move very quickly.
Bitcoin Hyper Project Pursues Early Advantage as Bitcoin Faces Resistance
A definite explosion at this time will lead to new capital in the entire Bitcoin universe, but the price of BTC at $ 73,500 remains lower than in previous years. Traders who are looking for asymmetric growth opportunities in the context of Bitcoin are starting to turn to projects that can move independently of BTC trading in the near future.
Project analysis Bitcoin Hyper ($HYPER) As a solution to this gap. The project claims to be the first phase 2 of Bitcoin and the integration of the Solana Virtual Machine (SVM), with the aim of overcoming the three limitations of Bitcoin: slowness, fees, and the lack of smart contracts, while maintaining the necessary security of the Bitcoin network.
Despite the project’s genius, the numbers speak for themselves. Where before the sale collected more 32 million The value of the token is here $0.0136 Only, it is a chance of staking available with a high annual return until 36% For first time participants. Providing a second level of stability in the Bitcoin-secured sector represents a strong contribution to the infrastructure.
A note Bitcoin Price Prediction: Will liquidation of short positions force the currency to $90,000? appeared for the first time Cryptonews Arabic.
