Bitcoin Bull Run Eyes $95K-$96K as Analyst Identifies Key Liquidity Zones
Bitcoin has shown a notable price recovery over the past week, climbing above $90,000 following a prolonged correction period. Market sentiment is growing optimistic for a potential push towards its all-time high of $126,100, with a prominent analyst highlighting critical price targets.
KillaXBT Pinpoints Next Major Targets
According to popular market analyst KillaXBT, Bitcoin's next significant price target lies within the $95,000 to $96,000 range. This zone is characterized by "strong, heavy illiquidity pockets and several liquidation clusters." These clusters represent large concentrations of leveraged trading positions that, once triggered, can generate forced buying or selling, injecting significant liquidity into the market and influencing price movements. However, KillaXBT advises caution, suggesting that the immediate upside might be delayed. Historically, the market often sweeps major liquidity zones ahead of significant macroeconomic events. With an upcoming Federal Open Market Committee (FOMC) meeting expected to clarify potential rate cuts, traders might see continued liquidity building below the yearly open in the near term. The analyst projects that the upper liquidation levels are still likely to be cleared, aligning more closely with next month's policy announcements.
Potential Price Scenarios and Strategic Positioning
KillaXBT outlines two plausible scenarios for Bitcoin's price trajectory. The first suggests a minor pullback to approximately $93,000, followed by a retest of $89,200, before a subsequent climb towards the $95,000-$96,000 target, potentially coinciding with a favorable FOMC rate adjustment. The second, more volatile scenario, involves a rapid surge to $96,000, immediately followed by a sharp drop to $89,200 due to triggered liquidations, before eventually recovering to the identified upper liquidity zones. As of the latest update, Bitcoin is trading around $90,490, experiencing a slight decline of 0.64% over the past day. KillaXBT indicates a preference for a short position leading up to the FOMC meeting, anticipating the "real short-term opportunity" to emerge only after the policy announcement.
