On Thursday, with the Bitcoin (BTC) price eyeing the 77,000 USD level, analysts are expecting a move of at least 5 percent. TradingView data shows that the BTC price is moving in a narrow range, with leveraged positions accumulating on both sides of the spot price. This is reported by Cointelegraph.com reports .
Prominent trader Daan Crypto Trades noted in his X analysis that there are large clusters around 78,000 USD and 76,500–77,000 USD in the short term. According to CoinGlass data, short position holders have suffered significant losses in the crypto market over the last 24 hours.
The analytical account Cryptic Trades noted that Bitcoin bears are finding themselves in a difficult position in real time. Despite some support levels being lost in recent days, optimistic forecasts regarding market strength remain.
Experts believe that the price remaining above the 74,000 USD level is the most likely scenario. Since the market structure remains intact, opening short positions or hedging spot assets at this point is considered technically illogical.
At the same time, Bitcoin and other risk assets are facing macroeconomic pressure. In particular, WTI oil prices rising above 100 USD per barrel could complicate the situation in the global market.
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