Since the 2024 breakout, the Bitcoin price has been on a rollercoaster ride, forming consecutive higher highs and lows. The bulls have been holding a significant dominance, but the bears have tried to hinder the rally at every turn. However, the BTC price has now broken out above $121,800, and the question on everyone’s mind is: how high can the Bitcoin price go in the next few days? 🤔
Huge Short Liquidations: 💸💰
Crypto liquidation is like a game of musical chairs, but with a twist. Traders bet on the price falling, and when the token goes against their bet, they get forcibly removed from the game. In the past couple of hours, more than $200 million in shorts were liquidated, which further pushed the price higher. 📈
In the past 24 hours, nearly $289 million worth of shorts were liquidated, with $205 million liquidated in the past hour alone. Over 110,000 traders were liquidated, with the single largest liquidation worth $95 million. The price has surged above all of the liquidation levels, which means there are no barriers to hinder the BTC bull run. 🐂
Open Interest Smashed ATH: 📈💥
Open interest is like a popularity contest for Bitcoin futures and options contracts. The more traders invest in these derivatives, the higher the open interest goes. The BTC OI has now reached the highest ever levels, which point towards a massive rise in the traders’ optimism. 🤑
The OI has been on the rise since the second quarter of 2024, and it has now marked a new ATH at $84.68 billion. Interestingly, the levels continue to rise, which suggests the traders are extremely bullish on Bitcoin, and hence the price is set to rise high. 🚀
What’s Next for the Bitcoin Price Rally? How High Can it Go? 🤔🔮
Bitcoin price smashed a new ATH at $121,209.01, and the momentum has been extremely bullish. With this, the BTC price may remain elevated for the rest of 2025. A popular analyst, Ali, shares the chart of BTC, which displays the recent highs of Bitcoin when it reached the highest bands. Considering these bands, the next highs are expected to be somewhere around $127,000. 📈
With the recent rise, Bitcoin has now become the 5th largest asset, surpassing giants like Amazon, Silver, and Alphabet (Google). On the other hand, institutions continue to accumulate BTC while their unrealized profits are in the billions. This suggests the Bitcoin bull run is being reinstituted, and hence a slow yet sustained rally may elevate the levels to new highs. 🌕
Read More
- SPX PREDICTION. SPX cryptocurrency
- USD IDR PREDICTION
- GBP USD PREDICTION
- You Won’t Believe Why Congress Suddenly Cares About Crypto and Memecoins
- US Senator Flirts with Tax-Free Crypto: Chaos, Charm, and Cold Hard Digital Cash!
- JPY KRW PREDICTION
- When the Treasury Takes on the Cyber Villains: A Tale of Sanctions and Schemes
- You Won’t Believe How Many Magical Beans Nano Labs Just Bought (With $1 Billion!)
- BTC EUR PREDICTION. BTC cryptocurrency
- BNB PREDICTION. BNB cryptocurrency
2025-07-14 07:52