From Investing.com: 2024-06-24 10:00:21

Bitcoin is currently at lower monthly trading ranges, but liquidity distribution suggests a potential upward movement towards $70,000. Concentration of liquidation leverage in the $70,000-$80,000 range can lead to swift price growth once Bitcoin starts rallying. The buyer intervention is crucial to maintain support and reach $72,500.

With less selling pressure below $57,000, Bitcoin’s upward momentum can push it towards higher liquidity zones. Buyers’ activity may trigger liquidations above $70,000, leading to abrupt price increases. Increased buying volume and positive market sentiment could drive Bitcoin towards $72,500.

Despite recent price declines, market liquidity hints at a forthcoming rally. Traders and investors should monitor buying activity and market indicators for potential opportunities. Bitcoin’s liquidity distribution and technical support levels suggest a possible move towards $72,500 amid upbeat market sentiment.

Read more at Investing.com: Bitcoin (BTC) Can Easily Hit $72,500, Here’s Why By U.Today