Bitcoin Price Surges to $85,000 as Analysts Predict Increased Market Volatility

Bitcoin (BTC) has reclaimed the $85,000 mark, with analysts predicting increased market volatility this week.

Key Insights

Analyst CrypNuevo highlights important liquidity zones above $90,000, focusing on liquidations between $90,000 and $91,500.
Bitcoin saw a 7% weekly increase, recovering from a decline to $74,000.
A balanced liquidation delta shows about $15 billion in long positions, suggesting heightened attention if it exceeds $25 billion.
Optimal price compression is expected around $86,000, indicating potential for significant price movement.

Market Patterns

CrypNuevo speculates a third retest may occur, following market patterns, which could compress prices and lead to an aggressive breakout.
Key support identified at $81,000, though this scenario is considered less likely.
Ali Martinez notes critical support at $82,024 from accumulated BTC, which may act as a safety net during potential retests.
Martinez also suggests that BTC might be forming a rising wedge, indicating a possible retest of the $79,000 support level.

Currently trading at $85,000, Bitcoin remains over 21% below its all-time high of $109,000 from January. Market sentiment appears bullish, possibly closing this gap soon.