Bitcoin Analyst Predicts $116,500 Short Squeeze and $120K Mid-Term Target
Key Highlights:
- On September 22, 2025, Bitcoin experienced a major long-squeeze event, with over $1.5 billion liquidated.
- Trader CrypNuevo anticipates a short squeeze for Bitcoin at the $116,500 level this week, following a cascade of long liquidations.
- CrypNuevo's mid-term target is set at $120,000, contingent on the current range lows holding.
Bitcoin Market Analysis:
- Bitcoin currently trades at $113,700, having rebounded from $112,000 support.
- The cryptocurrency is testing the 50-day exponential moving average (1D50EMA) at $113,890. A breakout could propel Bitcoin to the short-squeeze target of $116,500.
- The two-month trading range has seen fluctuations, with notable deviations in August and early September.
Altcoin Insights:
- Ethereum is projected to reach $12,000-$15,000 by the end of 2025, driven by Wall Street and White House adoption.
- Solana is expected to hit $300 due to increased institutional treasury adoption.
Additionally, UK-listed B HODL has acquired 100 BTC, joining regional companies with significant Bitcoin investment plans.