- Bitcoin closes green for seven straight weeks, signaling strong ongoing bullish sentiment from both retail and institutional investors.
- High open interest and on-chain liquidation risks indicate intense market positioning and possible volatility ahead.
The seven weeks of winning streak for Bitcoin now bring the bulls to seek a colossal new target, $155,601.73. The crypto guru Master Ananda proclaims this the “confirmed” next All-Time High. Is this the TOP? Many do not believe so, placing the bull run with an ample amount of fuel left in its tank.
Source: Master Ananda on TradingView
Bitcoin Eyes $155K as Bulls Push Through Volatility
Bitcoin just shrugged off the weekly low, deciding to snap back and close on a higher note. Never underestimate such a move. In cryptocurrency, that is a roar instead of a whisper. And here we have seven weeks of green closes in a row. Bitcoin is showing forces it has not seen in many years; it is an undeniable and clear sign of strength.
Imagine going back in time and snatching some Bitcoin for an unbelievable price below $80,000. Today? You wouldn’t just be standing still; you’d be perched atop a digital Fort Knox. Now, fast forward. You’re eyeing Bitcoin at $95,000 with the cystic crisp threat of resistance between $100,000 and $110,000. The gut-wrenching courage? It might just be the smartest move you’ve ever made. The market could be ready to reward bold bets handsomely.
Going beyond $155,000 would not be a cakewalk. Crypto analyst Ali Martinez points at a crucial level: $106,268. If it dips here, it would trigger liquidation worth $23.47 million, furthering Bitcoin’s plunge into the rabbit hole.
Source: Ali Martinez on X
Derivatives Market Soars, a Real Sign That the Bull Run is Still Far from Over
The bullish whispers won’t stop there. Derivatives markets shout from the rooftops with their optimistic sentiment. Now, remember those institutional whales, those dormant crypto giants? They’re stirring. According to Crypto News Flash, Binance open interest surged from $7.5 billion on April 8th to an outrageous $11.2 billion. This is no mere blip; this is the loud roar of the big players making their ways down from their mountaintop hideaways to feast.
Bitcoin is on an insane rally! Standing now at an astonishing $109,767, BTC has been up about 2.34% in the last 24 hours. Then, think of its market capitalization: a mind-boggling $2.18 trillion. There are some countries whose entire annual gross domestic product this much, for a little perspective. So, let it sink in.
Just like Bitcoin rises, so goes an ebb and flow through altcoin waters. History whispers: Bitcoin sets the pace for a new order of things while altcoins find the courage to rise in its wake.
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