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Home » Bitcoin Breaks Past $72,000 with Major Liquidations, Analysts Predict Further Gains

Bitcoin Breaks Past $72,000 with Major Liquidations, Analysts Predict Further Gains

Tani La by Tani La
October 31, 2024
in Markets
Bitcoin Breaks Past $72,000 with Major Liquidations, Analysts Predict Further Gains
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Bitcoin (BTC) has surged beyond $72,000, approaching its all-time highs, with over $265 million in liquidations occurring along the way, primarily affecting BTC short positions, according to Coinglass, a crypto exchange data aggregator. Binance led in liquidations, followed by OKX and HTX.

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Bitcoin now requires only a 1.5% increase to reach its all-time high. Trader Dave the Wave, with a following of 146,000 on X, signals that the bull market is likely back as Bitcoin broke out of an ascending triangle around $69,000 and continued climbing.

Source: Dave the Wave/X

Another trader, Bluntz, known as a “Master Trader” on Bybit, predicts Bitcoin could reach six figures, potentially around $120,000 by March, using the Elliot Wave Theory that analyses price movements through psychological “waves.”

Source: Bluntz/X

Additionally, analyst Rekt Capital, with 508,000 followers on X, points out that Bitcoin has broken out of a bull flag, a pattern involving a rally, pause, and further breakout. He notes that for the breakout to be fully confirmed, Bitcoin needs to stay above $69,000 for the week.

Source: Rekt Capital/X

Currently, Bitcoin trades at $72,888, marking a 111% increase over the past year.

Tags: BitcoinFeature
Tani La

Tani La

Tani La, a skilled author at coinculture.com, provides expert insights on cryptocurrency and blockchain, making complex topics accessible to all readers. She is holding BTC, ADA, NEAR and some small-cap altcoins in her portfolio.

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  • bitcoinBitcoin(BTC)$94,645.00-0.41%
    BITCOIN
    24H : -0.41%
    Volume : $23,457,829,549.00
    Marketcap : $1,879,461,238,089.00
  • ethereumEthereum(ETH)$1,784.39-2.43%
    ETHEREUM
    24H : -2.43%
    Volume : $11,907,688,955.00
    Marketcap : $215,429,634,367.00
  • tetherTether(USDT)$1.000-0.01%
    TETHER
    24H : -0.01%
    Volume : $22,688,271,885.00
    Marketcap : $148,449,285,530.00
  • rippleXRP(XRP)$2.21-3.36%
    XRP
    24H : -3.36%
    Volume : $2,838,323,025.00
    Marketcap : $128,876,149,646.00
  • binancecoinBNB(BNB)$600.20-0.40%
    BNB
    24H : -0.40%
    Volume : $732,516,923.00
    Marketcap : $87,599,802,707.00
  • solanaSolana(SOL)$145.90-1.58%
    SOLANA
    24H : -1.58%
    Volume : $2,916,473,683.00
    Marketcap : $75,608,852,123.00
  • usd-coinUSDC(USDC)$1.0000.00%
    USDC
    24H : 0.00%
    Volume : $6,475,719,374.00
    Marketcap : $61,944,034,700.00
  • dogecoinDogecoin(DOGE)$0.173-3.22%
    DOGECOIN
    24H : -3.22%
    Volume : $935,955,866.00
    Marketcap : $25,771,067,763.00
  • cardanoCardano(ADA)$0.690-3.16%
    CARDANO
    24H : -3.16%
    Volume : $687,054,247.00
    Marketcap : $24,921,945,156.00
  • tronTRON(TRX)$0.245-0.27%
    TRON
    24H : -0.27%
    Volume : $469,335,047.00
    Marketcap : $23,280,934,565.00

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