Bitcoin price facing potential violation of old all-time highs, with $78,000 and $92,000 levels eyed

From Cointelegraph

February 28, 2025 03:26 AM:

Bitcoin (BTC) faces potential violation of old all-time highs from March 2024 as losses erase the “Trump pump.” Traders eye CME futures gap at $78,000, nearly filled as of Feb. 28. Upside gap at $92,000 could provide relief bounce target, according to analyst Rekt Capital.

Longtime crypto market participant BitQuant reiterates long-term target of mid-$70,000 zone. Warned in December that $90,000 would not mark reliable support. Asks followers if they are panicking on Feb. 28. BTC bids laddered down to $70,000 range, indicating potential market bottom.

Exchange order book shows thickening liquidity between $70,000-$80,000, with $1.8 billion in bids on Binance futures pair. Liquidity can be manipulated by large-volume market participants. Recent data shows over $3 billion in five-day long liquidations, signaling risks of market volatility. Trading suite co-founder Keith Alan looks for buyers to come in as correction continues.

Read more at Cointelegraph: When will Bitcoin price bottom?