Bitcoin price recovery looms, liquidations signal market reset

The Bitcoin market has experienced a major reset, with more than $ 10 billion in open interest destroyed in just two months, which led analysts to believe that the price of Bitcoin is imminent.

According to the latest article in market analysis of cryptocurrency Darkfost on X, January 17, Bitcoin’s (BTC) Open interests have reached a record of $ 33 billion, reporting an extreme lever effect on the market. However, the political uncertainty linked to the recent actions of former American president Donald Trump led to a wave of liquidation.

Subsequently, nearly $ 10 billion in open interests disappeared between February 20 and March 4. This sharp decline pushed the change in the long term opening of 90 days of Bitcoin to -14%, often signaling market resets before price recovery. Analysts believe that the elimination of excessive speculation, these steps provide a more stable base for future growth.

Bitcoin’s long -term perspectives are always optimistic Despite the drop. According to economist Timothy Peterson, April and October are generally when Bitcoin knows the biggest seasonal gains. Peterson’s most recent analysis reveals that Bitcoin could reach new heights of all time before June, with a median target of $ 126,000.

In addition, its “lowest price” model, which estimates a price level that Bitcoin does not drop below future negotiation, indicates that the price of the Bitcoin price has now resurrected at $ 69,000, with 95% chance of holding. Previous bull passages have shown that corrections like the recent reduction of 30% bitcoin often precede strong rebounds.

However, not all analysts are completely optimistic. Benjamin Cowen, founder of Into The Cryptove, warned a YouTube on March 15 flow This Bitcoin bull cycle could be in danger if it falls below the peaks of 2024, which is in the $ 70,000 lower. Cowen compares the current cycle to 2017 when Bitcoin retests the summit of the previous year.

He suggests that the bullish market could be finished if Bitcoin closes in $ 60,000. In addition, according to Cowen, holding more than $ 70,000 at $ 73,000 would keep the structure of the market. Bitcoin can report a higher macro later in the year if it falls below this level, which could lead to a plus drop Outlook per third quarter.

Bitcoin is still in crucial consolidation phaseWith its current price at $ 82,900 at the time of the press. If past trends take place, this reset could open the way to another strong rally in the coming months.