22 March 2025
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Bitcoin Could Reach $112,000 If It Holds Above $94,000
Crypto analyst Ali Martinez indicated that Bitcoin (BTC) may rise to $112,000 if it breaks and holds above $94,000. Currently, BTC trades in the low $80,000 range following a slight uptick after the US Federal Reserve's announcement.
Key Levels for Bitcoin
- BTC could reach a new all-time high with sustained momentum above $94,000.
- If BTC falls below $76,000, it may drop to $58,000 or even $44,000.
- MVRV Extreme Deviation Pricing Bands suggest BTC is between the mean and +0.5 standard deviation bands.
- A Daily Close above $84,000 is critical for maintaining support.
Rekt Capital noted the importance of the $84,000 level for potential upward movement toward $94,000.
Short Squeeze Potential
- Trader Merlijn The Trader highlighted that pessimism around BTC could trigger a short squeeze, with $2 billion in short positions at risk of liquidation if BTC reaches $87,000.
- Arthur Hayes suggested that BTC's drop to $77,000 on March 10 might represent the market cycle's bottom.
As of now, BTC is trading at $84,043, down 2% over the last 24 hours.