Bitcoin Approaches $72K: Mass Liquidations Could Propel Price to $75K

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Table of Contents


  • If Bitcoin reaches $72,000, it could trigger the liquidation of $800 million in short positions, driving the price to new all-time highs.
  • BTC has risen 3.02% in 24 hours, trading at $70,954, and is facing key resistance between $71,500 and $72,000.
  • Analysts like Willy Woo and Rekt Capital indicate that consolidation above $72,000 could mark the beginning of a parabolic bullish phase.

Bitcoin’s price could be on the brink of heading towards new all-time highs, according to the latest market analysis. Experts suggest that if the cryptocurrency reaches $72,000, it could trigger a series of massive short position liquidations, acting as a “fuse” to push its price beyond $75,000.

In the early hours of June 5, Bitcoin experienced a 3.02% increase in 24 hours, trading at $70,954, representing a 4.63% increase over the past week. This upward movement has placed BTC at the threshold of critical resistance around $71,500 and $72,000. If these levels are surpassed, it could trigger a chain reaction in the derivatives market.

Analyst Willy Woo, with 1.1 million followers on the social network X, stated that a rise to $72,000 could trigger the liquidation of $800 million in leveraged short positions, facilitating a rise towards $75,000 and potentially a new all-time high. Woo explained that this cascade of liquidations would be sufficient to push Bitcoin’s price beyond its previous high of $73,740, reached on March 14.

CoinGlass, the cryptocurrency analysis platform, supports Woo’s theory. Their data shows that a break above $72,000 would liquidate $800 million in short positions, and an additional move above $72,500 would result in the liquidation of over $1.2 billion in leveraged short positions.

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Bitcoin Has Already Moved Away from Its Danger Zone

From a technical perspective, Bitcoin has broken a two-week downtrend. Rekt Capital commented that although temporary increases have been observed in the past, a convincing daily close above the current resistance is needed to confirm this breakout and turn the $72,000 level into new support.

BTC has shown significant progress in its recovery. Since May 6, when it consistently broke above the accumulation range of $60,000, it marked the end of its post-halving “danger zone.” Since then, the price has risen over 12.5%, establishing a solid base from which to climb further.

Consolidation above $72,000 could mark the start of a parabolic phase in BTC’s bullish cycle, potentially driving its price to unprecedented levels. With key resistance at play and a market ready to react, the coming days will be crucial for Bitcoin.


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