🚀 Bitcoin Returns to $70,000: Is it the Real Bottom or a Trap Before the "Great Liquidation"?
The cryptocurrency market has once again demonstrated its extreme volatility! After a rapid drop to $60,000, $BTC has made a strong rebound, catching short sellers off guard. However, analysts warn that the true bull market cycle may only begin after undergoing a "shock therapy."
📉 $2 Billion Liquidation: Shorts Caught in a Trap
In the past 24 hours, the crypto market has turned into a "meat grinder." The drastic price fluctuations have led to liquidations exceeding $2 billion across the network. As prices quickly reversed and stabilized above $70,000, those betting on further declines were forced out.
🧠 Santiment's View: A Collapse of "Symbol of Faith" Needed
Santiment founder Maksim Balashevich believes the current rebound may be temporary. He states that the industry needs a deep shakeout similar to the FTX collapse in 2022.
"The real catalyst for triggering a long-term rise could be the liquidation of MicroStrategy's holdings under Michael Saylor. The market needs to clean out high-leverage positions."
Balashevich's Predictions:
Short-term: A rebound to the range of $92,000 – $95,000 is possible. Concern: This rise could be quickly interrupted by a new wave of selling. 2026 Outlook: Achieving the $250,000 target seems unrealistic before experiencing a phase of "complete despair."
📊 Fundamental Signals: Is Bitcoin Severely Undervalued?
Despite skepticism towards leveraged positions, analysts at Glassnode have captured a historic signal. The Bitcoin Yardstick indicator (market cap to hash rate ratio) has fallen to a historical low.
What does this mean?
Historically, such indicators suggest that assets are severely undervalued. When network security (miner hash rate) rises while prices fail to keep up, it often marks the exhaustion of downward trends and the beginning of a long accumulation phase.
💬 What is your opinion?
Will we see $95,000 soon, or will we encounter the "black swan" liquidation mentioned by Santiment? Share your thoughts in the comments!👇
#BTC #比特币 #加密货币 #Santiment #Glassnode
