Bitcoin's price is currently hovering around $94,000, with movements constrained by liquidity blocks between $86,000 and $104,000. Crypto analyst Kevin notes that these blocks indicate potential price swings in both directions. Observing liquidation heatmaps reveals massive blocks from $86,000 to $104,000, suggesting a continuation of this trend.
The analyst warns that a drop to $86,000 could trigger a crash to $75,000, given the $12,000 support void below. On the flip side, any break above $108,000 could propel Bitcoin to new all-time highs, sparking a sustained bullish trend.
Kevin also emphasizes monitoring USDT dominance, currently at 3.7%, as a decrease might indicate more stability and bullish conditions. Less USDT dominance suggests investors are moving from stablecoins to Bitcoin and other cryptocurrencies.
For traders, especially those heavily engaged with recent trades, Kevin suggests a logical approach of closely watching the market amid these fluctuations. Long-term holders might ride out the current volatility, confident about projected price increases through 2025.
Currently, Bitcoin trades at $94,050, with slight drops in both daily and weekly performance. The featured image by Dall.E and charts from Tradingview.com underscore ongoing analysis.
Sursă: www.newsbtc.com ↗