Bitcoin hits $71.5K+ local high as analyst sees bears 'stepping in' soon
Why it matters: A break above or below $68‑$73k could trigger massive liquidations and shift crypto market sentiment.
- Bitcoin broke $71,500 for the first time since the week opened, posting a 4.5% daily gain.
- Jelle (trader) says reclaiming resistance would cement a short‑term bull case, while a rejection could send BTC down to $60k.
- Michaël van de Poppe links the rally to a “strong surge” in the Nasdaq and easing Middle‑East tensions, expecting further upside for Bitcoin and altcoins.
- CoinGlass recorded over $350 million in 24‑hour crypto liquidations, underscoring heightened market volatility.
- Filbfilb predicts bears will step in at the 50‑day SMA (~$73,640), where momentum may falter.
- CryptoReviewing highlights a $68k liquidation cluster as a likely target if bears seize the 50‑day line.
Bitcoin surged past $71.5k, hitting a fresh weekly high, but analysts warn the 50‑day moving average at $73.5k could invite a bear‑driven pullback toward $68k or even $60k.
